The newspaper cited people familiar with the matter as saying as many as 50 parties have registered an interest, including the U.S. bank Wells Fargo
Initial bids are due in the spring for the business, according to the article.
Deutsche Bank launched the business following a strategic review of Deutsche Asset Management last month, prompted by changing conditions in the industry, including regulatory reforms.
None of the banks involved could be reached for immediate comment.
(Reporting by Stephen Mangan; Editing by Steve Orlofsky)