Deutsche Bank ranked second in Hedge Fund Administration Survey
Deutsche Bank’s Alternative Fund Services, part of the bank’s Global Transaction Banking (GTB) division, has ranked second among top administrators in Global Custodian magazine’s 2009 Hedge Fund Administration Survey. This is the first time Deutsche Bank has participated in the survey, which is published annually and includes responses from 1,370 clients of hedge fund administrators around the globe. It is intended to measure service quality and value in 12 categories including client service, fund accounting and middle office services, across a full range of fund characteristics such as size, strategy and location.
“In our first appearance in the Hedge Fund Administration Survey we are very pleased to have ranked second and scored highly in a range of categories.” said Christopher Nero, Managing Director and co-head of Alternative Fund Services within Global Transaction Banking. “We made a strategic decision in January of 2008 to expand our fund administration business through an investment in people and technology and since that time have methodically grown our book of business by leveraging the strength and global capabilities of Deutsche Bank. We are sincerely grateful to our clients for their recognition and to our staff for their tremendous commitment to our core service values.”
“Great service, accurate reporting, extremely responsive staff, great management, good corporate culture, low turnover, top notch investor relations,” said a client noted within Global Custodian’s results.
In a write-up accompanying the results, Global Custodian commented, “The German universal bank, which has built a major prime brokerage franchise, in fact has a long pedigree in hedge fund administration too, with operations scattered across Cayman, Delaware, the Channel Islands, Dublin, Luxembourg, Mauritius and Singapore. But in January last year Deutsche transformed its presence in the industry by the acquisition of California based hedge fund administrator Hedgeworks. With staff in Boston and Cayman as well as the Golden State, Hedgeworks helped Deutsche double the size of its business. As it did for the prime brokerage business, the credit standing of the bank has attracted clients.”
Deutsche Bank’s Alternative Fund Services group provides a wide range of administrative and banking services to hedge funds, fund of funds and other alternative investment vehicles at all points of the fund life cycle. Services include: Fund and portfolio accounting, net asset value calculations including pricing and valuation support, shareholder / investor services, liquidity lines, fund of funds custody and an investor reporting platform.
Last month, Deutsche Bank announced that its Global Prime Finance business within its Global Markets division received 127 “Best in Class” and 16 “Top Rated and Commended” awards, the most among all global prime brokerage providers, in the Global Custodian 2009 Prime Brokerage Survey.
For further information, please contact:
Media Relations, Deutsche Bank
Scott Helfman +1 212-250-5602
John Gallagher +1 212-250-4516
About Deutsche Bank
Deutsche Bank <NYSE: DB> 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 78,896 employees in 72 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.