Deutsche Bank announced on Friday that it had completed the integration of Dresdner Bank’s institutional custody business in Germany. The bank says the transition involved the transfer of more than 100 institutional clients, who held the vast majority of assets under custody at Dresdner Bank. The project also included the transfer of more than 100 former Dresdner Bank staff to Deutsche Bank and the integration of a number of specialist custody services.
“The integration has been a great success,” says Roger Harrold, head of Deutsche Bank’s Domestic Custody Services. “We have kept to the original timetable while maintaining high levels of service both to our existing clients and to those who have been transferred from Dresdner Bank, as demonstrated by the many positive comments we have received from them. We now intend to build on that success by extending our enhanced product range within Germany and in other markets, thereby adding further value for our clients.”