Deutsche finalises acquisition of Taiwan's Far Eastern

Deutsche Bank has been given final regulatory approval for the acquisition of a 60% interest in Far Eastern Alliance Asset Management. The bank will buy the stake in the fund management company from the current owners û AllianceBerstein and the Sun Hung Kai Group. A former COO at the investment management business says the model was not profitable for Alliance, which had been planning to exit the venture for quite some time. Alliance will, however, hold onto its distribution portion, …