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Deutsche Bank asset management IPO unlikely in 2017 - CEO

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Deutsche Bank asset management IPO unlikely in 2017 - CEO

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FRANKFURT (Reuters) – Deutsche Bank’s <DBKGn.DE> planned listing of its asset management arm is unlikely to take place this year, Chief Executive John Cryan said on Thursday. The final decision on the timing will depend on market conditions and the final regulatory sign-off on the planned deal, he said on an analyst call to discuss the lender’s second-quarter earnings. “Our asset management businesses continue to exhibit good investment performance across many asset classes and investment styles,” he added. People close to the matter had told Reuters on Wednesday that a stock market flotation of the unit is expected to take place in the first half of 2018 at the earliest.

(Reporting by Arno Schuetze and Tom Sims; Editing by Maria Sheahan)
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