Vistra, a global fund administration, trusts and corporate service provider, announced yesterday that it has completed the acquisition of the Cayman Islands-based division of Deutsche Bank.
The business, which provides management and administration of special purpose vehicles and asset holding companies to banks, non-bank financial institutions and corporates, will now be rebranded under the Vistra umbrella.
The Cayman corporate services business provides management and administration of special-purpose vehicles and asset holding companies to banks, non-bank financial institutions and corporations. The local business includes structured finance transactions, aircraft leasing,
commercial real estate holding and investment funds (mainly private equity and real estate).
Operating in the United Kingdom, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and the US, the business employs 139 staff globally, with existing Vistra offices combining with the teams in these jurisdictions.
Commenting on the acquisition’s completion, Onno Bouwmeister, Vistra’s group managing director of Alternative Investments said, “We are pleased to have entered the final stage of completion for all of Deutsche Bank’s corporate services to become part of the Vistra brand. This is a significant opportunity for Vistra as we broaden our presence in seven of our existing locations across Europe, the Cayman Islands and Mauritius, providing further scale and expertise in our jurisdictions.
“Vistra has experienced significant growth in the capital markets sector with the Deutsche Bank acquisition and that of Canyon CTS earlier this year, creating exciting new potential for our Alternative Investments division. I look forward to working with the Vistra teams throughout our new offices to continue to build on our achievements and take Vistra to the next level.”