Manhattan Trust and Banking (Japan) from Chase Manhattan Bank for an unspecified amount.
CMTB, whose name will be changed to Deutsche Morgan Grenfell Trust Bank, offered a full range of asset management and custodial services.
"This acquisition provides the platform to increase further our already successful asset management business in Japan," said Hitoshi Yamamoto, who will be president and chief executive of the new unit.
Yamamoto said it would also offer Deutsche Bank's global custody network to existing clients. Under Japanese banking regulations, only fully licensed
trust banking companies are allowed to offer asset management and custody services to Japanese institutional investors.