(RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-Following a strategic review of its asset management operations that at one point involved a possible sell-off to Guggenheim Partners, Deutsche Bank on Tuesday said it is hanging onto RREEF, the real estate and infrastructure investment management arm of Deutsche Asset Management. RREEF and other divisions—including DWS Americas, DB Advisors and Deutsche Insurance Asset Management—will be part of the newly integrated Asset & Wealth Management platform, the Frankfurt-based bank, which has US headquarters in Lower Manhattan, said in a statement. The AWM division was announced in a June 1 press statement.

“Combining active and passive investment strategies together with retail asset management in one business unit will position the bank to fully exploit the potential of its roughly EUR 900 billion in assets under management and invested assets and to generate added value for customers,” according to the statement. “As a result, AWM aspires to double IBIT for its operating business from around EUR 0.8 billion in 2011 to approximately EUR 1.7 billion in 2015,” while establishing itself as a global leader by increasing assets under management and invested assets to about EUR 1 trillion.
AWM will also include businesses that were formerly under the Corporate Banking & Securities umbrella, including exchange traded funds.