Deutsche Bank is in exclusive talks with private equity firm Permira to sell the loss-making part of its wealth management business in the UK, the Financial Times reported on Wednesday, citing three people familiar with the negotiations. The German lender was hoping to reach a deal to sell Liverpool-based Tilney Investment Management before Christmas, the FT said. The paper said Tilney focused on the "Mass affluent" lower end of the wealth management market. A sale would leave the bank with a London-based UK wealth management business that focused on the super-wealthy, with several billion euros under management, the FT reported.
Source: REUTERS
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