Corporate service provider Vistra acquires the Corporate Services business of Deutsche Bank’s Global Transaction Banking division.
«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,» said Jose Sicilia, Deutsche Bank's head of Trust and Agency Services, Global Transaction Banking.
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.
International Expansion
Vistra has been on a roll with acquisitions, a few months after expanding its footprint into India, it snapped up an international corporate services provider Intro International, based in Singapore. Earlier this year Vistra established a presence in Australia through the acquisition of Foster Raffan, a boutique chartered accounting firm based in Sydney.
The corporate services business provides management and administration of Special Purpose Vehicles (SPV's) and asset holding companies to banks, non-bank financial institutions and corporates. It specialises in the administration of structures for: structured finance transactions; aircraft leasing; commercial real estate holding; and investment funds (mainly private equity and real estate).
