DZ Privatbank in Luxembourg has partnered with Deutsche Bank Securities Services for the sub-custody of assets in the Spanish market.
The company consolidated the fixed income and equity assets it manages in Luxembourg and migrated these assets to Deutsche Bank’s platform in Spain.
Despite the challenges presented by the ongoing COVID-19 pandemic, Deutsche Bank said its fully operational home-working teams had facilitated the electronic migration of the assets fully meeting the scheduled completion date of 31 July 2020.
Stephen Wilkes, head of securities services, Europe, Middle East and Africa sales, Deutsche Bank, said: “We are pleased to be partnering with this client, particularly at a time when an increasing number of institutions are opting to consolidate their European assets with one regional provider.”
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