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).
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