UBS and Deutsche Bank discuss merger of asset management divisions: report

The asset management divisions of UBS and Deutsche Bank are having serious discussions about a possible merger, the Financial Times reported Wednesday.

If the investment banks agree to a deal, which they have been discussing “for a couple of months,” according to a source in the report, the merged asset manager would have more than €1.4 trillion in assets under management. This would allow it to compete with Amundi, Europe’s largest money manager, as well as U.S. investment managers BlackRock and Vanguard, the Financial Times reported.