State Street Corporation, JPMorgan Chase & Co. And Ameriprise Financial, Inc. Bid For Deutsche Bank AG's Unit-Reuters

Reuters reported that State Street Corporation, JPMorgan Chase & Co. and Ameriprise Financial, Inc. are among the finalists in the bidding process for Deutsche Bank AG's asset management division. The bank said in November that it was considering the sale of many of its global asset management businesses due to new regulation, rising costs and increasing competition expected to weigh on future earnings. Deutsche expects the unit could fetch more than $2.58 billion (EUR2 billion). Final bids are due by late February. The sale would include all of Deutsche's institutional investor business, DB Advisers, its alternative asset business, RREEF, an insurance asset management business; and its DWS Investments mutual fund business in the Americas. DB Advisers has $209 billion in assets under management. The insurance asset management unit has $193 billion and RREEF has $59 billion.