Deutsche Bank today announced its appointment as successor depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of Legal & General Group plc (L&G).
L&G is a leading provider of risk, savings, and investment management products in the United Kingdom. With over 176 years of experience, L&G is using its expertise to grow its insurance and investment businesses in the US, Asia and Europe. L&G is responsible for investing £381 billion worldwide (as at 30 June 2012), on behalf of investors, policyholders and shareholders and is one of the largest investors on the London stock market, responsible for around 5% of all investments on the London Stock Exchange. L&G has over eight million individual customers globally with life assurance, pensions, investment or general insurance plans.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank, said, “Winning the depositary mandate for L&G represents significant recognition of Deutsche Bank’s superior client servicing capabilities from one of the United Kingdom’s most prestigious companies. We look forward to providing L&G ADR holders with the highest level of service.”
*Source: Legal & General Group plc. (December 2012)About Deutsche Bank Trust & Securities Services Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of financial structures and transactions. It is a leading depositary for American and Global Depositary Receipts, providing value-added services to companies raising capital in international markets or listing on the New York, NASDAQ, London, Luxembourg, Singapore or NASDAQ Dubai stock exchanges by means of depositary receipts. It also offers both mutual and alternative fund administration and provides securities custody, clearing and agency lending services from a global network spanning more than 30 markets. Additional details are available on www.adr.db.com or www.tss.db.com. This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG New York.
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