Deutsche Bank and DWS said they will deepen their long-standing collaboration in Discretionary Portfolio Management (DPM) to strengthen investment implementation for high-net-worth private clients. Under the enhanced model, DWS will contribute its institutional investment and execution platform, while Deutsche Bank’s Private Bank will retain responsibility for strategic asset allocation, portfolio design and client advisory.

The banks said client assets will continue to be held with Deutsche Bank Private Bank, with ownership, product responsibility and brand leadership unchanged. The initiative supports Deutsche Bank’s mid-term ambition to accelerate growth in wealth management, including a plan to double DPM volumes over the next three years, while allowing DWS to leverage its scale and investment infrastructure to deliver improved outcomes for clients.