Deutsche Bank wins US securities lending mandate 03 November 2011New York Reporter: Anna Reitman
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Deutsche Bank has announced it is the first third party agent selected to provide securities lending services for Employees Retirement System of Texas (ERS).
Jacqueline Johnson, deputy executive director of investments for ERS, said, "We believe the [Deutsche Bank] team can be a strong intrinsic value lender and a superior risk manager."
ERS provides a retirement and disability pension system for Texas state employees, law enforcement and custodial officers, elected state officials and two classes of judges.
Tim Smollen, global head of Agency Lending, Global Transaction Banking, Deutsche Bank, said, "We are delighted to serve ERS, one of the world's largest and most sophisticated retirement systems in the United States. We look forward to building a long-lasting relationship with the ERS team."
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