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Deutsche could offload DWS, its retail asset manager.
The mega retailer Walmart closed its Moscow office last year after failing to buy a single Russian retail asset.
"The traditional 60/40 approach to building a portfolio is on the way out," said Michael Fredericks, head of retail asset allocation for BlackRock and lead portfolio manager for the BlackRock Multi-Asset Income Fund.
The Baltic segment offers retail, asset management and private banking services in the Baltic countries.
Not surprisingly, in 2001 the sector's overall profitability fell by more than 48%, and the profitability of retail asset management, though still greater than that of the institutional side, declined sharply.
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PITY, if you can, America's retail asset-management industry.
Arturo de Frias, an analyst at Dresdner Kleinwort, reckons that RBS paid 17.6 times tangible book value (adjusting for goodwill and subsequent write-downs) for ABN's wholesale business and Asian operations, and that Fortis shelled out 14.2 times book value for its Dutch retail, asset-management and private-banking arms.
The mediocre pot will contain the other foreign retail assets, which RBS will attempt to auction.
The retail chain sold its Japanese cinema and retail assets to local companies.
Mr. Moberg's predecessor spent $19 billion buying retail assets from Chile to Maryland.
He starts off with Flint, who has made proposals about how the ring fencing of retail assets could work.
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