Butterfield Completes Acquisition of Deutsche Bank Global Trust Solutions
Butterfield announced on 25 October 2017 that it had reached an agreement with Deutsche Bank to acquire GTS and take over the ongoing management and administration of the GTS portfolio. Over 60 Deutsche Bank employees have joined Butterfield as part of the acquisition to provide continuity of service for clients.
Michael Collins, Butterfield’s Chairman and Chief Executive Officer, said, “I would like to thank and commend the transition teams from both organisations who have worked to make the transfer and integration of the GTS business as seamless as possible for clients and our new colleagues.
“GTS clients and their advisers can look forward to working with many of the same trust professionals they came to know at Deutsche Bank, who are now part of an expanded international trust team at Butterfield. We also look forward to continuing to provide Deutsche Bank wealth managers with a broad range of international trust and fiduciary services to help address their clients’ wealth structuring needs going forward.
“As part of the acquisition, Butterfield established a
Notes to Editors:
The Bank of N.T. Butterfield & Son Limited (“Butterfield”) is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in
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Source: The Bank of N.T. Butterfield & Son Limited