The asset management unit of Deutsche Bank will fully acquire the Deutsche UFG Capital Management. Financial details of the transaction were not disclosed.
Deutsche UFG Capital Management was established in 2008 after the lender bought a 40 percent stake in UFG Invest, the Russian investment management company of UFG Asset Management (UFG AM). Following the deal, Florian Fenner will continue to be chairman of Deutsche UFG Capital Management and will join the DB Russia regional executive committee.
Click here for the release from Deutsche Bank.