West Palm Beach (HedgeCo.net) – Deutsche Bank’s Alternative Fund Services, part of the bank’s Global Transaction Banking (GTB) division, has ranked second among top administrators in Global Custodian magazine\u2019s 2009 Hedge Fund Administration Survey.<\/p>\n
This is the first time Deutsche Bank has participated in the survey, which is published annually and includes responses from 1,370 clients of hedge fund administrators around the globe. It is intended to measure service quality and value in 12 categories including client service, fund accounting and middle office services, across a full range of fund characteristics such as size, strategy and location.<\/p>\n
\u201cIn our first appearance in the Hedge Fund Administration Survey we are very pleased to have ranked second and scored highly in a range of categories,\u201d said Christopher Nero, Managing Director and co-head of Alternative Fund Services within Global Transaction Banking.<\/p>\n
In a write-up accompanying the results, Global Custodian commented, \u201c(GTB) has a long pedigree in hedge fund administration too, with operations scattered across Cayman, Delaware, the Channel Islands, Dublin, Luxembourg, Mauritius and Singapore. But in January last year Deutsche transformed its presence in the industry by the acquisition of California based hedge fund administrator Hedgeworks. With staff in Boston and Cayman as well as the Golden State, Hedgeworks helped Deutsche double the size of its business. As it did for the prime brokerage business, the credit standing of the bank has attracted clients.\u201d<\/p>\n
Last month, Deutsche Bank announced that its Global Prime Finance business within its Global Markets division received 127 \u201cBest in Class\u201d and 16 \u201cTop Rated and Commended\u201d awards, the most among all global prime brokerage providers, in the Global Custodian 2009 Prime Brokerage Survey.<\/p>\n
Alex<\/span> Akesson<\/p>\n Editor for HedgeCo<\/span>.net<\/p>\n alex@hedgeco<\/span>.net<\/p>\n