Deutsche Bank has won a mandate to provide securities lending services for a division of the US commonwealth of Kentucky.
The division, the Finance and Administration Cabinet – Office of Financial Management (OFM), is a long-time participant in third-party (non-custodial) securities lending programs, Deutsche Bank says.
Deutsche Bank offers financial strength, access to a seasoned management team and real-time technology, says Dwight Price, head of fixed income, trading and risk management for OFM. The bank was able to clearly differentiate itself as a manager based on its track record and ability to customize a program for us.
We look forward to an enduring partnership with OFM, says Tim Smollen, global head of agency lending, Global Transaction Banking, Deutsche Bank. Our approach addresses the evolving needs of investors who are demanding greater sophistication and transparency from their providers.
(CG)