We're not trying to be BlackRock: DeAWM chief
Though he admits Deutsche Asset & Wealth Management is later to the passive-investing party than its US rival, Michele Faissola sees room for players in other niches and talks about the firm's Asia business.
Deutsche Asset & Wealth Management's global head said this week that his firm is not seeking to mimic BlackRock’s strategy in the passive-investment sector, acknowledging its rival’s huge success in this area.
“Everybody needs to have their own strategy, so we are not trying to be BlackRock,” said Michele Faissola of DeAWM, which runs $1.2 trillion in assets, against the US firm’s $4.4 trillion. “But there are some similar features.”
Speaking in London, he credited BlackRock…
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