Negotiations between Zurich Financial Services Group and Deutsche Bank
Zurich, September 13, 2001 - Zurich Financial Services Group and Deutsche Bank AG confirmed today that they are in an advanced stage of negotiations. Deutsche Bank is interested in acquiring the Zurich asset manager, Zurich Scudder Investments. Threadneedle, the UK asset manager, which is closely integrated with Zurich's UK distribution network, would remain a part of the Zurich Group. At the same time, Zurich may acquire the Deutscher Herold and further insurance subsidiaries of Deutsche Bank in Continental Europe. An integral part of the negotiations is a cooperation and distribution agreement between the two companies in the fields of insurance, asset management, and banking to provide a full range of financial services to their respective customers.
Both companies will make no further statement until the negotiations have been concluded.
