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Deutsche Bank's DWS says it wants to be consolidator, not target

Reuters
FILE PHOTO: The headquarters of Germany's Deutsche Bank are photographed in Frankfurt

FRANKFURT (Reuters) - Deutsche Bank's <DBKGn.DE> asset manager DWS <DWSG.DE> said that it remains on the lookout for takeover targets, after tie-up talks with peer UBS <UBSG.S> failed earlier this year.

"We want to play an active role (in consolidating the sector)", Chief Executive Asoka Woehrmann said at an investor day on Tuesday, adding that deals could help DWS expand its product offering, skills and geographic reach.

Woehrmann added that he expects an increasing number of takeover targets to come on the block in coming years as the industry's margins decrease and new technologies emerge.

(Reporting by Hans Seidenstücker; Writing by Arno Schuetze; Editing by Thomas Seythal)