Deutsche Bank appointed as successor depositary bank for the American Depositary Receipt program of Marks and Spencer Group plc
Deutsche Bank today announced its appointment as successor depositary bank for the American Depositary Receipt (ADR) program of Marks and Spencer Group plc (Marks & Spencer).
Marks & Spencer is one of the United Kingdom’s leading retailers, with annual sales in excess of £8 billion. Marks & Spencer offer stylish, high quality, great value clothing and home products, as well as outstanding quality foods, all responsibly sourced from trusted suppliers. The Group employs more than 70,000 people worldwide, operates more than 875 stores in 39 countries, and serves tens of millions of customers every week. For more information, see www.marksandspencer.com.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We welcome Marks & Spencer’s decision to transfer its ADR program to Deutsche Bank’s depositary receipts platform. Our broad range of customized services will be used to assist Marks & Spencer in enhancing the visibility of its ADR program with the United States investor community.”
For further information, please call:
+44 (0) 207 545 4907
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 78,291 employees in 76 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.
This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG London.
*Source: Marks and Spencer group plc (February 2008)