Deutsche Bank and G4S to establish new precious metals vault
Deutsche Bank and G4S are pleased to announce that they are to join forces in establishing a new vault for the storage of precious metals in the UK, in response to increased demand from the market for bullion storage facilities. The new vault will be built and managed by G4S, the world's leading international security solutions group, for the exclusive use of Deutsche Bank and its clients and will be an enhancement to Deutsche Bank’s already extensive metal trading and clearing capabilities.
The growth in investor interest in precious metals, directly and via exchange-traded products, creates an opportunity for Deutsche Bank to further expand the range of services offered to its customers and to strengthen its metals business.
“This is a key step in Deutsche Bank’s ongoing efforts to build out our physical presence in commodities. We know that clients are looking to diversify where they place their physical holdings and that they value Deutsche Bank’s reliability. Deutsche Bank is delighted to partner with G4S, the leading security solutions provider, in this important initiative. For us, this ensures we will have better control over storage capacity and costs and improve the service we can provide our customers. It will position us well to quickly become a leading metals clearing and custody house,” commented Raymond Key, Global Head of Metals Trading at Deutsche Bank.
The vault, which will be constructed and run to industry-leading standards of security, will be available for clients in 2013.
For further information, please call:
Deutsche Bank AG
Press & Media Relations
Phone: +44 (0) 20 7545 4249
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.