Deutsche’s RREEF exits DEXUS
Deutsche Bank has announced that it has sold its 50 per cent interest in the management company of DEXUS Property Group, formerly known as DB RREEF Group, to DEXUS unit holders
Deutsche chief executive in Australia Chum Darvall said the move represented a positive step that would allow both organisations to pursue independent and more aggressive growth strategies.
He said RREEF Alternative Investments would continue its expansion strategy in Australia through organic growth, selective acquisitions and an ongoing strategic relationship with DEXUS Property Group.
RREEF Asia Pacific chief executive Kurt Roeloffs said the change to the DEXUS name resolved any brand confusion that existed between the two organisations.
He said DEXUS remained a key client of both Deutsche Bank in Australia and RREEF across the globe.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.