Vistra acquires corporate services business from Deutsche Bank

Tuesday 19 September 2017

Global corporate service provider, Vistra, is to acquire the corporate services business of Deutsche Bank’s Global Transaction Banking division by the first half of 2018.

'Corporate services' provides management and administration of special purpose vehicles (SPV) and asset holding companies to banks, non-bank financial institutions and corporates.

Operating in the United Kingdom, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and the US, the business employs 139 staff globally. It specialises in the administration of structures for:

• structured finance transactions (CLOs, CDOs, securitizations, mortgage-backed securities);
• aircraft leasing;
• commercial real estate holding; and
• investment funds (mainly private equity and real estate). 

Expected to close in the first half of 2018, the firm says the the transaction, which is subject to regulatory approvals, will strengthen Vistra's international network and provide 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.

Commenting on the acquisition, Onno Bouwmeister (pictured), 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.”