Deutsche Bank today completed its acquisition of Zurich Scudder Investments U.S. business. The total value of the deal was $2.5 billion. The Scudder name will be retained for U.S. mutual funds only. Integration of the two firms will be completed within about 100 days, according to a statement from the company.
Scudders U.K. investment manager, Threadneedle, was not included in the transaction.
Deutsche Bank will acquire Zurichs asset management businesses in Germany and Italy in the second quarter. Deutsche will sell some of its insurance assets to Zurich as part of the deal.