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Alex._Brown_Logo The U.S. private-client business, once part of Alex. Brown, was acquired by Deutsche Bank in its purchase of Bankers Trust Corp. in 1999, said BloombergBusiness. The $9 billion deal was a record at the time for a foreign purchase of a U.S. investment bank. “Consistent with our growth strategy, this well-respected unit meets our highly selective parameters for cultural and strategic fit, ability to integrate and value,” said Raymond James CEO Paul C. Reilly. “We feel confident that our core values of putting clients first, conservatism, independence and integrity are shared endeavors among this experienced group of approximately 200 advisors.” “We are very pleased Raymond James has agreed to acquire the bank’s PCS unit,” said Jerry W. Miller, head of Deutsche AWM in the Americas. “We believe Raymond James is a strong, growth-oriented partner that will foster future growth for the PCS business and its clients.” ”As communicated in the Bank’s Strategy 2020 priorities, the US is a key geographic region for Deutsche Bank’s wealth management business,” said Fabrizio Campelli, Deutsche Bank global head of wealth management. “This agreement will allow us to focus on our strategic priorities including investing in our US Private Bank, which has grown consistently over the last ten years by serving ultra-high-net-worth clients through bespoke lending, trust, custody, banking and investment advisory solutions.” Raymond James Financial is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 6,600 financial advisors serving in excess of 2.7 million client accounts in more than 2,700 locations throughout the United States, Canada and overseas. Total client assets are approximately $504 billion. Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF. With USD $1.22 trillion of assets under management as of September 30, 2015, Deutsche Asset & Wealth Management is one of the world’s leading investment organizations. Deutsche Asset & Wealth Management, a unit of Deutsche Bank, offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices. Deutsche Bank AG was founded in Berlin in 1870 and is based in Frankfurt am Main, Germany.]]>