Deutsche Bank’s Trust & Securities Services, part of its Global Transaction Banking division, today announced the opening of a regional public finance trust office in Summit, New Jersey. This is the latest step in the Bank’s continuing regional expansion of its public finance trust business. The Summit office, located at 25 DeForest Avenue, will focus particularly on providing local account management and administration services for public finance clients in New Jersey, Pennsylvania, Maryland and Delaware.
“Our strategy of growth through the addition of regional offices continues to demonstrate our commitment to the municipal market and to growing the public finance segment of our corporate trust business,” said Howard Topf, Managing Director and Head of Global Debt Services within the Bank’s Trust & Securities Services business. “As we expand into new markets our dedication to providing local expertise and exceptional customer service continues to be the foundation of our business.”
“We have just completed the fifth year of our regional office initiative and Summit is the seventh regional office we have opened,” said Steven Eason, Director and Head of US Public Finance Trust Services within the Global Debt Services business. “The market has responded to our commitment to the public finance segment and we have gone from the 23rd ranked trustee for municipal finance appointments in 2002 to the fourth ranked trustee in the first quarter of 2007, according to Thomson Financial.”*
Joining the Bank to head the new Summit office is Debra Schwalb, an 18-year veteran of the corporate trust business. Schwalb joins as Vice President responsible for client relationship management and business development. Schwalb was formerly with The Bank of New York where she was responsible for relationship managers and trust associates in the mid-Atlantic unit.
To further support its growth strategy, the Bank has hired Joe Dattoli to join its New York office as Vice President responsible for business development. Dattoli joins from SourceMedia where he was Associate Publisher of The Bond Buyer, the leading daily newspaper of the public finance industry.
“Debra Schwalb and Joe Dattoli are both seasoned industry professionals whose knowledge and dedication will ensure we provide the best possible support for our clients in the public finance market as we continue to expand,” Eason added.
Deutsche Bank also has regional public finance trust offices in Boston, MA; Charlotte, NC; Chicago, IL; Los Angeles, CA; New York, NY; Olive Branch, MS; and San Francisco, CA.
For further information, please call:
John T. Gallagher +1 212 250 4516
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 73,114 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of debt financings including bonds, medium term note and commercial paper programs, asset backed and mortgage backed securities, collateralized debt obligations, project financings, escrows and syndicated loans. It is also one of the leading depositaries for American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in 28 securities markets.
* Thomson Financial Fourth Quarter 2002 and First Quarter 2007 US Municipals Lawyers & Trustees Review-AT8
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