The bank, which is 40 percent owned by the UK government, has appointed Rothschild as an adviser for the sale, two sources confirmed to Reuters on condition of anonymity.
If a sale process proceeds, interested parties will kickstart due diligence on the business soon after, the people said. Deutsche Bank's own investment banking team is handling the process, they added.
The most recent analysis that ARC has put together, for Q3 2011, described the period as “the worst quarterly PCI results yet recorded”, including 2008. Its full-year 2011 analysis is expected to be available in around six weeks’ time.
SocGen, France's second-listed bank, is cutting jobs, selling assets and overhauling management under Chief Executive Frederic Oudea as it seeks to restore investor confidence after a brutal 2011.
The year was “nerve shredding,” says Michael McLintock, chief executive of M&G, the UK manager owned by Prudential.
The London-based advisory group said structures that allow family investors to share knowledge and co-invest, such as investment committees and roundtables, will become more commonplace this year.
The present value of the total public issues during the year worked out to about Rs 9,500 crore, reflecting a loss of over Rs 4,500 crore or nearly 33 per cent for those who invested in these offerings.
At the close of a tumultous twelve months on the markets, hedge fund manager Crispin Odey has described 2011 as a "pretty horrible year", but pointed to opportunities in 2012 presented by cheap prices.