Frankfurt According to a media report, Deutsche Bank is in talks with the wealth management unit of Postal Savings Bank of China (PSBC) about the establishment of a joint venture. The German money house is aiming for a majority stake in the new company, reported the financial magazine Caixin, citing people familiar with the matter on Wednesday.
No agreement has yet been reached. Deutsche Bank initially did not respond to Caixin’s request. Financial institutions have been rushing into the vast wealth management market of the world’s second largest economy since China opened the sector to foreign investors in 2019.
More: The reason for this are deficits in preventive measures that have now been resolved to prevent manipulation of the Euribor reference interest rate. The matter is quite uncomfortable for the institute.
Top jobs of the day
Find the best jobs now and
be notified by email.