Deutsche Bank has decided to call off the possible sale of its unit, BHF-Bank to Liechtenstein’s LGT Bank. The German lender is instead implementing an alternative plan of transforming and modernizing the business operations of BHF-BANK within its group. The Frankfurt-based bank is primarily seeking to boost the private wealth and asset management business. Deutsche Bank sold part of the bank, BHF Asset Servicing, to BNY Mellon last year for €253 million, adds Financial Times.
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