Guggenheim in lead for Deutsche’s AM business

Guggenheim Partners has been named exclusive bidder for Deutsche Bank’s asset management business. The process has been going since November last year, when the German bank placed all of its institutional asset management businesses under a strategic review. Guggenheim is understood to have beaten other bidders including JP Morgan, Macquarie and Wells Fargo. Early reports indicate that the price paid could be €1.5 billion to €2 billion, which suggests Guggenheim is not buying …