KAS BANK launches Depotbank in Germany

As of 1 June 2010, KAS BANK's Wiesbaden branch will offer Depotbank services to the German market. As a Depotbank, KAS BANK’s German Branch acts as a custodian and trustee to German Institutional clients. Following approval by the German regulator BaFin, the first seven funds have been transferred to KAS BANK, with a further 10 scheduled for later this year.

KAS BANK has operated as a custodian in the Netherlands for more than 200 years, and entered the UK market in early 1990s. Germany therefore represents KAS BANK’s third ‘home’ market. The addition of the Depotbank functionality completes KAS BANK’s service offering to German institutional investors and financial institutions.

Sikko van Katwijk, Chief Commercial Officer, KAS BANK:
"With the addition of the Depotbank function, we are now able to serve a much greater proportion of one of the largest European investment markets."

Jörg Sittmann, Managing Director, KAS BANK Germany:
“Establishing the Depotbank function was achieved within 12 months. All regulatory duties will be fully provided by our Wiesbaden staff. This builds on our position as a European specialist, adding competitive, added-value services for the German market. We distinguish ourselves by absolute independence, and a clear focus on the administration and settlement of securities transactions. We do not offer investment management services, thereby preventing conflicts of interest with our clients."