Deutsche and Woori sign funds deal

The agreement will focus on product innovation, not just distribution.

Woori Bank and Deutsche Asset Management have signed a cooperation agreement to jointly develop their respective investment management businesses. According to Deutsche, this deal will go beyond the usual Korea distribution link up.

Choy Peng-hua, Asia CEO at DeAM, says, This strategic alliance focuses on the sale of investment products. The ultimate goal for both parties is to increase the wealth management capabilities of Woori Bank by tapping into the global experience of DeAM.

He notes DeAM, which has $800 billion of assets under management globally, has achieved a similar success in Germany, where it achieved over 25% of market share in the mutual funds business despite having a...

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