Le Lézard
Classified in: Business
Subjects: TNM, CON, ACC

Vistra to Acquire Corporate Services Business from Deutsche Bank


HONG KONG, September 14, 2017 /PRNewswire/ --

Vistra, a leading global corporate service provider, announced today that it has entered into a definitive agreement to acquire the Corporate Services business of Deutsche Bank's Global Transaction Banking division. 'Corporate Services' provides management and administration of SPVs and asset holding companies to banks, non-bank financial institutions and corporates. The business specialises in the administration of structures for:

     (Logo: http://photos.prnewswire.com/prnh/20150611/748772 )

Operating in the United Kingdom, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and the US, the business employs 139 staff globally. The transaction is subject to regulatory approvals.

Expected to close in the first half of 2018, the transaction will assist Vistra to continue on its progressive growth trajectory. The acquisition strengthens Vistra's international network and provides further scale and expertise for existing jurisdictions. All of Deutsche Bank's Corporate Services staff will be given the opportunity to join the combined operation to support and grow the client relationships that are at the core of this acquisition. Terms of the agreement are not being disclosed.

Commenting on the acquisition, Onno Bouwmeister, Vistra's Group Managing Director of Alternative Investments' division stated "This acquisition marks another significant step in Vistra's growth, broadening our presence in seven of our existing locations across Europe, the Cayman Islands and Mauritius. It gives us presence in Ireland, a key strategic jurisdiction particularly in light of the upcoming 'Brexit' process, and additional capability in Mauritius where the bulk of the back-office administrative activity is carried out to high quality standards. This additional expertise in the Capital Markets sector will have a significant impact on our Alternative Investments division, creating exciting opportunities for our new employees and clients alike. We look forward to working together to build on our achievements to date and take Vistra to the next level."

Jose Sicilia, Deutsche Bank's Head of Trust and Agency Services, Global Transaction Banking said "Our main goal with this transaction was to find a partner that will continue to deliver the highest quality services to our Corporate Services clients as well as a dedicated Corporate Service provider for our staff. This will enable us to sharpen our focus on our existing award-winning securities services business. We feel we have achieved our objective with Vistra."

About Vistra   
Ranked in the top four corporate service providers globally, Vistra is a versatile group of professionals, providing a uniquely broad range of services and solutions. Our capabilities span across company formations to trust, fiduciary, private client services, and fund administration. Vistra employs over 3,500 employees in 74 offices across 44 jurisdictions.

For more information, please visit http://www.vistra.com

SOURCE Vistra Group


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