Heard that Lyxor, one of the largest ETF providers and recently buyer of the corresponding Commerzbank division, is now apparently for sale itself? The parent company Société Générale is apparently interested in buying from the fund companies DWS and Amundi. Allegedly, the major French bank has now hired a consultant. The bank had already started examining options for the division last year. As early as September there were reports of an interest from the companies that are now again named as possible buyers. Lyxor is one of the largest European ETF providers and, according to its own information, manages around 150 billion euros.
Heard that the Fürstlich Castell‘sche Bank from Würzburg has hired the former DWS manager Christian Hille as general representative and future board member for fund management and asset management? Asset management and mutual funds are currently the more important divisions of Bavaria’s oldest bank. Therefore, as soon as BaFin grants approval, Hille will be appointed to the board so that the division will be represented there again with its own board, says Supervisory Board Chairman Ingo Mandt. Hille was most recently responsible for the multi-asset business at DWS. He now wants to create new products at Fürstlich Castell‘schen Bank.
Heard that Kurt von Storch, the 59-year-old co-founder of the Flossbach von Storch fund company, is handing over responsibility for day-to-day business to Marcus Stollenwerk, who came from UBS?
Heard that Fintech FNZ has appointed three general representatives for its direct bank Ebase, acquired by Commerzbank and managed by the former Consors boss Kai Friedrich, including Pamela Schmidt-Fischbach (most recently BNP Paribas) and the former board member of the S broker Jens Wöhler?
Heard that Deutsche Bank wants to use the cheap refinancing funds of the European Central Bank (TLTRO III) up to a maximum of 40 billion euros? So far, she has already raised 34 billion euros through this longer-term loan program.
Heard that Commerzbank is apparently prone to outflows? The divisional directors Kerem Tomak and Dominik von Steinkühler, two digital-savvy divisional directors, are at least moving on. Richard Lips, who has been Head of Communications at the company for almost 15 years, will also be leaving Commerzbank at the end of the year, as announced internally on Friday.