Deutsche Bank Completes Sale of Corporate Banking Arm

Deutsche Bank has finalised the sale of its corporate banking unit, Global Transaction Banking, to fund administration services provider Vistra.  The bank has been on the hunt for a buyer since last September, when it first announced plans to sell off the unit, which has operations in the US, UK, Ireland, the Netherlands, and a number of other European countries. The move is part of Deutsche’s broader push to trim its corporate banking services. Last March, the company also sold its Private & Commercial banking unit. The initiative will allow the financial institution to streamline and improve its corporate services. Last month, it integrated DocuSign technology to support electronic signatures. Currently only available to customers in the US, UK, Netherlands, Belgium and Germany, the bank plans to roll out the solution to its business clients across Asia Pacific and the Middle East. Vistra Group Managing Director of Alternative Investments Onno Bouwmeister said: “We are pleased to have entered the final stage of completion for all of Deutsche Bank‘s corporate services to become part of the Vistra brand.”