Deutsche Bank hands over its ‘Corporate Services’ business division to Vistra

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Vistra, a leading global corporate service provider, has landed a plum assignment from the Global Transaction Banking Division of Deutsche Bank.

The bank announced that an agreement with Vistra has been inked which will empower the latter to acquire the Corporate Services business of the bank,

The Division essentially provides the management and administration of SPVs and asset-holding companies to banks, non-bank financial institutions and corporate entities.

In detail, the business service specializes in the administration of structures for the following :

• Structured Finance Transactions (CLOs, CDOs, Securitizations, Mortgage-Backed Securities);
• Aircraft Leasing;
• Commercial Real Estate Holding; and
• Investment Funds (mainly private equity and real estate).

Spread over a network of operating offices across the UK, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and USA, the Deutsche Bank’s division employs 139 personnel across these centres.

The transaction will be subject to regulatory approvals.

Gaining much ground in its projected business growth trajectory, Vistra will work towards closing the transaction by the first half of 2018.

Vistra revealed that all the Deutsche Bank’s Corporate Services staff will be given the opportunity to join the combined operation to support and grow the client relationships that are at the core of this acquisition.  Terms of the agreement are not being disclosed.

Onno Bouwmeister, Vistra’s Group Managing Director of Alternative Investments Division stated, “This acquisition marks another significant step in Vistra’s growth, broadening our presence in seven of our existing locations across Europe, the Cayman Islands and Mauritius. It gives us presence in Ireland, a key strategic jurisdiction particularly in light of the upcoming ‘Brexit’ process… We look forward to working together to build on our achievements to date and take Vistra to the next level.”

Jose Sicilia, Deutsche Bank’s Head of Trust and Agency Services, Global Transaction Banking said “Our main goal with this transaction was to find a partner that will continue to deliver the highest quality services to our Corporate Services clients as well as a dedicated Corporate Service provider for our staff. This will enable us to sharpen our focus on our existing award-winning securities services business. We feel we have achieved our objective with Vistra.”

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