KAS BANK successfully completes acquisition of Deutsche Postbank fund administration

We are pleased to announce that KAS BANK’s acquisition of the German fund manager Deutsche Postbank Privat Investment Kapitalanlagegesellschaft mbH (PPI) has been finalised, effective as of 1 August 2009.

This follows the announcement on 16 July 2009 regarding the signing of the purchase agreement for the acquisition of PPI by KAS BANK. This takeover will strengthen KAS BANK’s independent position as a ‘pure player’ in the German institutional market for fund administration and securities services.

During the course of 2009 PPI will be fully integrated into KAS BANK’s subsidiary, KAS Investment Servicing GmbH.