By IGNITES Europe*
The overhaul of the Luxembourg business of DekaBank, one of Germany’s largest asset managers, could put up to 100 jobs at the firm at risk. So reports the Luxembourg Times. It emerged earlier this week that the Luxembourg-based arm of the asset manager is to stop selling funds directly to end investors. The Frankfurt-based firm sells the vast majority of its investment products via its owners, Germany’s savings banks, but its unit in the Grand Duchy has also sold funds directly to end clients. It was reported that the move will coincide with a reorganisation of Deka’s Luxembourg-based unit. DekaBank Luxembourg SA will be dissolved as a separate entity at the end of 2019.(...)
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