Deutsche Bank completes acquisition of Xchanging Transaction Bank (XTB) – Renamed "DB Investment Services GmbH"
Frankfurt am Main - Deutsche Bank has completed the acquisition of Xchanging Transaction Bank (XTB). The agreement between Deutsche Bank and Xchanging plc regarding the purchase of the remaining 51% of the shares in the joint venture was signed in May 2013. As the required approvals, for example, from the regulatory authorities and shareholders of Xchanging, have been obtained in the meantime, the announced change of control to Deutsche Bank AG became effective on September 1, 2013.
The acquired entity has been renamed DB Investment Services GmbH and will be integrated into Deutsche Bank’s infrastructure operations.
The company’s senior management is comprised as follows: Holger Wegmann will be the Chief Executive Officer (CEO). Catrin Röthe, who was already a member of XTB’s senior management, will be the Chief Production Officer (CPO). Dr. Thomas Beemelmann will take on the role of Chief Operating Officer (COO).
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 15 April 2013 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.