Deutsche sells US asset management business

Deutsche Bank has sold its US fixed-income asset management business to UK-based Aberdeen Asset Management for £265 million. The German bank transferred the Philadelphia-based business to Aberdeen at the beginning of December. This adds to the institutional equity, fixed-income, global equity, multi-asset and retail businesses in London that Aberdeen bought from Deutsche Bank last September.

Deutsche Asset Management retains its UK-based hedge fund and real estate businesses, and its high-yield

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