Deutsche to administer Epta Bank funds

Deutsche International has been awarded a mandate by Epta Bank of Italy to act as an administrator and custodian to a new range of funds they are establishing in Ireland. The value of these funds are expected to top Euro 5 billion by mid-2001.

Epta Bank, a large player in the Italian market, requested the top ten service providers in the IFSC to submit proposals and make presentations for their new business. According to Deutsche International, Epta chose it over other IFSC service providers because of the positive feedback received from existing Deutsche customers.

According to John Donohoe, managing director of Fund Services at Deutsche International “This new client is significant not only in terms of its size but also in terms of what it says to us and to the other service providers in the IFSC. Being awarded this mandate confirms Deutsche as one of the premier service providers in the IFSC”

Established in the IFSC in 1991, Deutsche International has become one of the Centre’s largest employers, with a staff of 300 today.

It has pioneered many of the milestones in the emergence of Dublin as a significant international funds centre, and is one of the largest custodial banks in the Centre, with over USD$70 billion in assets under administration and custody.