Apex completes acquisition of Deutsche Bank AFS 19 June 2018Frankfurt Reporter: Jenna Lomax
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Apex Group has completed the acquisition of Deutsche Bank Alternative Fund Services (Deutsche Bank AFS).
According to Apex, the acquisition of Deutsche Bank AFS strengthens Apex’s breadth of service, including the addition of depositary and custody services, and builds on the strong working relationship and history of collaboration between the two companies.
Deutsche Bank AFS employees will be fully integrated into the Apex team, and Deutsche Bank AFS clients will gain immediate access to an additional 18 jurisdictions, as well as Apex’s local service delivery model.
Apex also recently acquired M.M.Warburg & Co’s Asset Management Servicing, as well as private equity fund administrator, Ipes.
Peter Hughes, founder & CEO of Apex Fund Services, said: “The close of this deal is an important milestone in Apex’s evolution. We are now in a truly unique position to add genuine value to our clients as an independent provider with robust banking capabilities and services.”
He added: “Using a separate team has meant that no clients have been impacted or lost between signing and closing, while at the same time significant new business has still been won and on-boarded. We now look to replicate this successful process with our other acquisitions as we maintain our growth momentum.”
David Rhydderch, president at Apex Fund Services, and former global head of alternative fund services at Deutsche Bank, commented: “The similarities between Apex and Deutsche Bank AFS were apparent from the outset. A clear focus on client service means the transition to combine our services has been seamless and as the newly combined Apex Group we remain committed to our goal of prioritising our clients’ needs.”
He added: “We are now focusing on integrating the Warburg business and are confident that both of these acquisitions will generate more innovative ideas, products, and services that will propel us forward as industry leaders.”
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