Deutsche Bank AG’s DWS Group soared the most ever in Frankfurt trading on news that Allianz SE is exploring the possibility of combining it with its asset management arm to create a national champion in active money management.
The Munich-based insurer is looking at the feasibility of a deal with Germany’s largest lender to create a business with 1.17 trillion euros ($1.33 trillion) under management, people with knowledge of the matter said, asking not to be identified in discussing internal matters. Allianz’s deliberations are at an early stage and may not lead to any formal talks or agreement, the people said.
