Deutsche Bank's asset management arm DWS is rebranding under the lender's name, adopting Deutsche Asset Management as its global umbrella brand from November. This reverses a 2018 decision to forge an independent identity ahead of its Frankfurt IPO, when DWS cited negative impacts from association with Deutsche Bank's scandals involving interest-rate rigging, money laundering, and mis-selling securities.

In the eight years since, Deutsche Bank CEO Christian Sewing has restored profitability and strengthened capital. Deutsche still owns about 80% of DWS and has deepened cooperation, including agreements between DWS and Deutsche's investment and corporate banking divisions on originating private credit. DWS CEO Stefan Hoops, widely seen as a potential successor to Sewing, joined Deutsche Bank's management board in May.

The DWS name will remain focused on active fund management in Germany and core Europe, while Deutsche Asset Management will serve institutional clients and private markets. Hoops took over in 2022 following a greenwashing scandal and has improved profitability. DWS shares have risen nearly 50% over the past 12 months, compared to a 20% gain for Deutsche Bank.