The terms of the deal were not disclosed.

Vistra, a global corporate service provider, has agreed to acquire the corporate services business of Deutsche Bank’s global transaction banking division. The corporate services business provides management and administration of special purpose vehicles and asset holding companies to banks, non-bank financial institutions and corporates.  

The business specialises in the administration of structures for structured finance transactions, aircraft leasing, commercial real estate holdings and investment funds (mainly private equity and real estate), the firms said in a statement.  

The transaction is subject to regulatory approvals. The deal, which is expected to close in the first half of 2018, will see all of Deutsche Bank's corporate services staff given the opportunity to join the combined operation to support and grow client relationships. The financial terms of the agreement were not disclosed.

“This acquisition marks another significant step in Vistra’s growth, broadening our presence in seven of our existing locations across Europe, the Cayman Islands and Mauritius," Onno Bouwmeister, Vistra’s group managing director of alternative investments. "It gives us presence in Ireland, a key strategic jurisdiction particularly in light of the upcoming Brexit process, and additional capability in Mauritius where the bulk of the back-office administrative activity is carried out to high quality standards. This additional expertise in the capital markets sector will have a significant impact on our alternative investments division, creating exciting opportunities for our new employees and clients alike," he said.

Jose Sicilia, Deutsche Bank's bead of trust and agency services, global transaction banking said: “Our main goal with this transaction was to find a partner that will continue to deliver the highest quality services to our corporate services clients as well as a dedicated corporate service provider for our staff. This will enable us to sharpen our focus on our existing award-winning securities services business. We feel we have achieved our objective with Vistra.”

Operating in the United Kingdom, Ireland, Luxembourg, the Netherlands, Jersey, Mauritius, Cayman Islands and the US, the corporate services business employs 139 staff globally. 

This publication has reported on several Vistra acquisitions over the last few months. In August, Vistra acquired Total Solutions Middle East, a business operating in the Dubai International Financial Centre and the Abu Dhabi Global Markets centre.