Speculation is rife in the wake of the departure of Steffan Gmuer that Deutsche Bank has put the US custody business it inherited from Bankers Trust on the block. The likeliest buyer of the business, which is haemorrhaging clients, is thought to be State Street, which could slot the large slice of indexed funds neatly into its existing offering. This would free the giant German bank to concentrate on Europe.
State Street to Buy Deutsche Custody Business in the US?
Speculation is rife in the wake of the departure of Steffan Gmuer that Deutsche Bank has put the US custody business it inherited from Bankers Trust on the block. The likeliest buyer of the business, which is haemorrhaging clients, is