Deutsche-Scudder deal means compromise in Asia
The two institutional asset managers hope to resolve areas of overlap within 60 days.
"Let's face it," says Brian Scullin, regional CEO at Deutsche Asset Management in Sydney, "this is a transaction driven out of the United States."The transaction in question: Deutsche Bank's $2.5 billion acquisition of American fund manager Zurich Scudder Investments from Zurich Financial Services. The impact: right now Asia-Pacific operations are not the focus of the strategists in either camp. Scudder is an investment powerhouse, with $278 billion of assets under management worldwid…
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