Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

2738

Deutsche Bank to acquire Dresdner’s agency securities lending business

RELATED TOPICS​

Deutsche Bank has signed a definitive agreement to acquire Dresdner Bank’s global agency securities lending business from Commerzbank.

Deutsche Bank has signed a definitive agreement to acquire Dresdner Bank’s global agency securities lending business from Commerzbank.

The Dresdner agency securities lending business will be integrated into Deutsche Bank’s trust and securities services business in global transaction banking as part of its local custody franchise and will be overseen by Roger Harrold, global head of domestic custody services.

Terms of the transaction were not disclosed, and closing of the transaction is subject to customary conditions, including receipt of regulatory approvals. The transaction is expected to be completed in the fourth quarter of 2009.

‘This acquisition adds one of the largest third-party agency securities lending providers to our custody platform in global transaction banking,’ says Harrold. ‘We are continually seeking ways to further expand the range of services we provide to our clients, and this addition to the GTB platform will undoubtedly help us achieve that goal.’

The sale is part of Commerzbank’s strategy to focus on its core markets and activities.

Tim Smollen (pictured), global head of Dresdner Bank’s agency lending business, who will remain head of the business after closing, says: ‘The Deutsche Bank platform represents a strong fit for our global business, our clients and our ambitions in the agency lending space. We look forward to working with our new colleagues to ensure the smooth integration of the business and to introduce our complementary service to Deutsche Bank’s clients.’

Latest News

The trading and investment platform eToro has extended its proxy voting feature to all stocks..
C8 Technologies, the London-based fintech founded by former BlueCrest Capital Management partners Mattias Eriksson and..
DWS has announced the latest development in its strategic growth push in Alternative Credit with..

Related Articles

Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Pension funds
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are coming together to instigate a new industry coalition...
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by