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Article: Deutsche Makes Move as Hedge Fund Administrator.(Deutsche Bank AG acquiring HedgeWorks LLC)
- Article from:
- American Banker
- Article date:
- February 25, 2008
- Author:
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Deutsche Bank AG's acquisition of a California hedge fund administration business was its opening salvo in its plan to become a top-five player in the business, an executive with the banking company says.
Buying HedgeWorks LLC, of Carlsbad, brought Deutsche Bank more than $10 billion of assets under administration drawn from more than 100 hedge fund clients.
F. Jim Della Sala, Deutsche Bank's head of structured finance services for the global transaction banking unit's trust and securities services business, said his company has its work cut out to catch the industry's leaders, including State Street Corp., Citigroup Inc., and HSBC PLC.
"We ...