Deutsche Bank's asset management business will rebrand under its global retail arm DWS.
The bank said all of Deutsche Asset Management's business lines - institutional and retail segments and across its active, passive and alternatives range - will unite under one umbrella and operate autonomously under a new legal structure coming into effect in the first quarter of 2018. It will also launch a new logo.
Xtrackers and RREEF, its exchange-traded funds (ETFs) and real estate brands respectively will stay as is on a product level.
The Australian operations will also be affected by the global initiatives.
Deutsche Bank also announced it established a new management team to help support its growth strategy, which comprises: Nicolas Moreau (chief executive and chair of managing directors), Claire Peel (chief financial officer), Jon Eilbeck (chief operating officer) and Nikolaus von Tippelskirch (chief control officer).
Von Tippelskirch, who has been with the bank for 18 years, will also be responsible for legal, compliance, risk, governance and legal entity management. He was most recently the global head of incident and investigation management.
It also includes Stefan Kreuzkamp (chief investment officer and co-head, investment group), Pierre Cherki (co-head, investment group), Bob Kendall (co-head, global coverage group), Thorsten Michalik (co-head, global coverage group).
Under the new structure, Deutsche Bank chief administrative officer Karl von Rohr will become Deutsche AM's chair of its supervisory board, which will comprise independent members, shareholder representatives and employee representatives yet to be announced.
Moreau said: "We want to unlock the full potential of Deutsche AM to facilitate growth. Our future legal structure demonstrates the long-term commitment of Deutsche Bank to our business while giving us the operational autonomy to advance our growth strategy."
Deutsche Asset Management has EUR 711 billion ($1.1 billion) of assets under management.