This morning Deutsche Bank [profile] co-CEOs Juürgen Fitschen and Anshu Jain unveiled their plan for the next five years, and the asset management business has a key place in that plan.

In this morning's release, "Deutsche Bank announces next phase of strategy," Fitschen and Jain laid out "six new decisions" to guide the giant, German multinational bank's team through 2020, decisions that came out of its strategy review process. Decision four (of those six) is to "invest to accelerate growth in GTB [Global Transaction Banking] and Deutsche AWM [Asset & Wealth Management]". The release also lists AWM as one of Deutsche bank's "core businesses."

Jerry Miller, head of asset and wealth management in the Americas, was not immediately available for comment about what the next phase specifically means for Deutsche's U.S. mutual fund and ETF businesses.

Yet Deutsche did offer more information as to growth plans for AWM in general:

Deutsche Asset & Wealth Management (Deutsche AWM) has gained considerable traction after an intensive restructuring launched in 2012. The business aims to accelerate growth by expanding its balance sheet by 5-10% per year until 2020, increasing the number of relationship managers by 15% in key markets, adding product specialists, and developing innovative products in growing asset classes.

The news comes about two years after Fitschen and Jain concluded a strategic review of asset management and decided to keep the business within Deutsche.

Meanwhile, the five-year strategy Fitschen and Jain detailed today also includes plans to create "a more digital bank", "focusing Deutsche Bank's geographical footprint" by exiting some countries (without naming which) and "transforming the operating model." 

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