Deutsche Bank renews Illinois sec lending service deal
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Deutsche Bank renews Illinois sec lending service deal 11 April 2018New York Reporter: Madeleine Saghir
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The Illinois State Treasurer’s Office has renewed an agreement to receive securities lending services from Deutsche Bank, following a competitive request for proposals process.
The renewal follows a 10-year third-party securities lending relationship between the State Treasurer’s Office and Deutsche Bank.
According to Deutsche Bank, the program has outperformed expectations since its inception in 2008.
Tim Smollen, global head of agency securities lending at Deutsche Bank, commented: “We are proud of our decade-long track record of delivering consistent outperformance for the State Treasurer’s Office and we are excited about the opportunity to build on that success.”
Smollen added: “We’re especially pleased about the positive impact we’ve had on taxpayers and the public entities we serve in Illinois.”
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