Netherlands

Vistra concludes Deutsche Bank corporate services business acquisition


By added on 16/08/2018

(Private Banker International) -- Vistra, a provider of trust, fiduciary and fund administration services, has completed the purchase of the corporate services business of Deutsche Bank’s Global Transaction Banking unit.

The acquired entity, which offers management of special purpose vehicles and asset holding companies to banks, non-bank financial institutions and corporates, will now operate under the Vistra brand.

The corporate services business has operations in the UK, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and the US. As part of the deal, all 139 employees of the business will migrate to Vistra offices.

The deal, whose financial terms were not disclosed, was first announced in September last year.

Vistra group managing director of alternative investments Onno Bouwmeister said: “We are pleased to have entered the final stage of completion for all of Deutsche Bank’s Corporate Services to become part of the Vistra brand.

“This is a significant opportunity for Vistra as we broaden our presence in seven of our existing locations across Europe, the Cayman Islands and Mauritius, providing further scale and expertise in our jurisdictions. Vistra has experienced significant growth in the Capital Markets sector with the Deutsche Bank acquisition and that of Canyon CTS earlier this year, creating exciting new potential for our Alternative Investments division.”

Vistra has been on an acquisition spree in the recent times. Earlier this year, the firm snapped up US-based international expansion services provider Radius, Irish capital markets firm Canyon CTS, Indonesia’s Global Expandia, as well as Ireland’s Squires Gilbride Chartered Accountants & Advisors.