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Deutsche Bank seeks wealth management partners

13 December 2001  |  2766 views  |  0 Deutsche Bank HO3

Deutsche Bank is looking to develop relationships with third party banks in a bid to expand its online broking and private client asset management service maxblue across Europe.

Deutsche Bank says maxblue has increased its market share among European online brokers to 12% following its simultaneous launch in Germany, Spain and Brazil in April. By year-end maxblue expects to have 500,000 brokerage-only users throughout Europe. An additional 200,000 Deutsche Bank private clients are also authorised to use the service.

In comparison to Internet-only brokers, maxblue offers online execution alongside access to the research and investment banking expertise of the Deutsche Bank Group, along with personal advisory services throughout the bank's branch network.

The bank is looking to develop further relationships across Europe, modelled on its successful link with Banco do Brasil. Under the name 'maxblue Banco do Brasil/Deutsche Bank', customers of the Brazilian bank have full access to all of the maxblue products and information. While the customer relationship remains with the partnering company, users get an online broking and avisory service courtesy of Deutsche Bank.

"Maxblue opens access to the capital markets without claiming the customer relationship for itself," says Luca Marighetti, responsible worldwide for maxblue.

Hermann-Josef Lamberti, member of the board of managing directors of Deutsche Bank says that the maxblue partner strategy will shield the bank from a forthcoming consolidation in the European online broking and wealth management market. "With the transaction platform and the maxblue offering, we have the best starting conditions," he says.

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