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Face to Face: A return home
11 March 2010
Tim Smollen, global head of agency lending at Deutsche Bank discusses the acquisition of Commerzbank AG’s securities lending business and the benefits it will bring.
Global Investor/isf: Have you retained all clients in the merger?
Tim Smollen: Deutsche Bank acquired the Global Agency Securities Lending Business from Commerzbank AG in May of 2009. Throughout the migration which was complete by the end of November, we were pleased to have been able to retain all our active clients.
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Global Investor/isf: Have you retained all staff on the securities lending team?
TS: Yes, the entire team moved to Deutsche Bank.
Global Investor/isf: When the Dresdner business was sold to Commerzbank , how did you feel?
TS: At first we were cautiously optimistic, but of course we could not help to be a little nervous. In the end, we were pleased when they decided to seek a new home for our business.
Global Investor/isf: How does...
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