KAS BANK N.V. has migrated the Kapitalanlagegesellschaft (KAG) of the Deutsche Postbank group, Deutsche Postbank Privat Investment Kapitalanlagegesellschaft mbH (PPI), into the German KAG of the KAS BANK group, KAS Investment Servicing GmbH. As was announced on 3 August 2009, the KAS BANK group acquired PPI this summer as part of itsstrategy to grow its German funds business.
The operational migration to the KAS BANK technical infrastructure of the 12 Deutsche Postbank public mutual funds that were administered by PPI was successfully completed in early October 2009. The last step in the integration process has now been realised with the legal integration of PPI into KAS Investment Servicing GmbH, resulting in one KAG for the KAS BANK group in Germany.
This speedy conclusion of the integration process further strengthens KAS BANKs independent position as a pure player in the German market for fund administration and securities services. Jrg Sittmann, Managing Director Germany: “With the full technical migration of PPI completed in just two months time, KAS Investment Servicing has clearly demonstrated its ability to integrate new business effectively and in record time. We are now well on track to become a major player in the German institutional market.
D.C.