IR Releases - Archive

Frankfurt, May 13, 2009

Deutsche Bank to acquire Dresdner Bank's Global Agency Securities Lending business

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced the signing of a definitive agreement to acquire Dresdner Bank’s Global Agency Securities Lending business from Commerzbank AG (XETRA: CBK GY).

The Dresdner securities lending business will be integrated into Deutsche Bank’s Trust & Securities Services (TSS) business in Global Transaction Banking (GTB) 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,” said Mr. 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 of Dresdner Bank’s Global Agency Securities Lending business is part of Commerzbank’s strategy to focus on its core markets and activities.

Tim Smollen, Global Head of Dresdner Bank’s Agency Lending business, who will remain head of the business after closing, said “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 our business and to introduce our complementary service to Deutsche Bank’s clients.”

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 24 March 2009 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from .  

IR Releases on Financial Results 2015
IR Releases on Financial Results 2014
Footer Navigation:
Copyright © 2016 Deutsche Bank AG, Frankfurt am Main