Deutsche Bank to acquire Dresdner Bank business

by Richard Kilner

Story link: Deutsche Bank to acquire Dresdner Bank business

Deutsche Bank has announced it has reached an agreement with Commerzbank to acquire the Global Agency Securities Lending business of Dresdner Bank.

Earlier this week Commerzbank completed its takeover of Dresdner Bank, taking on the latter’s clients and employees following a speeded up takeover.

The newly acquired business will be integrated into the Trust & Securities Services (TSS) business of Deutsche Bank and be supervised by the Domestic Custody Services’ global head, Roger Harrold.

Customary conditions need to be satisfied and the green light is required from regulators, with the terms of the arrangement undisclosed.

Harrold has said that Deutsche Bank is constantly seeking to enhance its offering to clients, and the acquisition will help bolster its Global Transaction Banking platform.