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Deutsche Bank has chosen a new brand name and corporate structure for its soon-to-be listed asset management division that will give minority shareholders limited influence over the company regardless of the size of their equity stake.

Chairman of the asset manager will be Deutsche Bank’s chief administrative officer Karl von Rohr.

Ahead of the float, the division will be globally re-branded as DWS, Deutsche Asset Management Chief Executive Nicolas Moreau told investors on a capital markets day in London on Tuesday. This is a tribute to the company’s historic roots, as it was founded as “Deutsche Gesellschaft für Wertpapiersparen” in 1956.

It will be floated as a partnership limited by shares, or KGaA, the company said.

Deutsche Asset Management’s capital markets day in London is a milestone in the IPO of one of Europe’s biggest asset managers with assets of €700bn under management. Deutsche Chief Executive John Cryan wants to raise up to €2bn by floating a minority stake in the first half of next year.

Under German law, external investors in a KGaA, as well as worker representatives, have less say than in a normal listed company, or Aktiengesellschaft. Under the chosen structure, Deutsche Bank can name the management board without consulting with the latter’s supervisory board or its shareholders. In an AG, the top executives are chosen by the supervisory board, which is elected by all shareholders.

The company on Tuesday outlined its medium term targets, promising to grow assets under management by 3 to 5 percent per year, compared to 2.8 percent in the first nine months of 2017 and a 5.5 per cent drop last year. The cost-income-ratio, which currently stands at 68 per cent, shall fall to below 65 per cent. The company wants to pay out 65 to 75 per cent of net income as dividends.

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