Deutsche Bank (Malta) Ltd acquires custody licence

The MFSA has issued a Category 4 Investment Services licence to Deutsche Bank (Malta) to provide custody and trustee services for collective investment schemes. The licence will allow the bank to provide asset safe-keeping and monitoring services in relation to transferable securities, units in collective investment schemes, money market instruments and financial derivatives. Deutsche Bank is already licensed as a credit institution in Malta.

“The availability of global custody services is key to the future development of Malta’s financial services sector. Recent events have focused attention on the asset safety aspects surrounding the funds industry and Malta’s efficient re-domiciliation procedures, strong regulatory structures and competitiveness have combined to make it more attractive as an EU fund servicing location. This has in turn put pressure on the demand for custody services and the MFSA has been working intensively for the past year to ensure wider capacity and choice in this area,” the MFSA said.

The Deutsche Bank Group operates in over 70 countries and is a world leader in global custody. The new licence will ensure that Malta will continue to meet the increasing demand for custody services from its growing community of UCITS and hedge fund managers. It will also continue to extend its global reach as a fund domicile.