Deutsche bank trust company new york bankers trust
A blast from the past!
Deutsche Bank Trust Company Americas (DBTCA) was a trust company that was a subsidiary of Deutsche Bank AG, a German multinational investment bank and financial services company. DBTCA was headquartered in New York City and was a major player in the trust and custody business in the United States.
In 1999, Deutsche Bank acquired Bankers Trust Corporation, a leading trust and custody bank in the United States, for $10 billion. As a result of this acquisition, DBTCA was formed to operate the trust and custody business of Bankers Trust.
DBTCA provided a range of services, including:
- Trust and custody: DBTCA held and safeguarded assets for institutional clients, such as pension funds, endowments, and foundations.
- Securities lending: DBTCA lent securities to clients and earned a fee on the borrowed securities.
- Foreign exchange and derivatives: DBTCA provided foreign exchange and derivatives trading services to clients.
- Fund administration: DBTCA administered investment funds, including mutual funds, hedge funds, and private equity funds.
In 2015, Deutsche Bank announced that it would be exiting the trust and custody business in the United States, citing declining revenue and increasing regulatory burdens. As a result, DBTCA was wound down, and its assets and liabilities were transferred to other Deutsche Bank entities or sold to other financial institutions.
Today, Deutsche Bank's trust and custody business is operated by Deutsche Bank Trust Corporation, which is a subsidiary of Deutsche Bank AG and is headquartered in Frankfurt, Germany.