Deutsche Bank renews Illinois sec lending service deal
11 April 2018 New York
Image: Shutterstock
The Illinois State Treasurer鈥檚 Office has renewed an agreement to receive securities lending services from Deutsche Bank, following a competitive request for proposals process.
The renewal follows a 10-year third-party securities lending relationship between the State Treasurer鈥檚 Office and Deutsche Bank.
According to Deutsche Bank, the program has outperformed expectations since its inception in 2008.
Tim Smollen, global head of agency securities lending at Deutsche Bank, commented: 鈥淲e are proud of our decade-long track record of delivering consistent outperformance for the State Treasurer鈥檚 Office and we are excited about the opportunity to build on that success.鈥�
Smollen added: 鈥淲e鈥檙e especially pleased about the positive impact we鈥檝e had on taxpayers and the public entities we serve in Illinois.鈥�
The renewal follows a 10-year third-party securities lending relationship between the State Treasurer鈥檚 Office and Deutsche Bank.
According to Deutsche Bank, the program has outperformed expectations since its inception in 2008.
Tim Smollen, global head of agency securities lending at Deutsche Bank, commented: 鈥淲e are proud of our decade-long track record of delivering consistent outperformance for the State Treasurer鈥檚 Office and we are excited about the opportunity to build on that success.鈥�
Smollen added: 鈥淲e鈥檙e especially pleased about the positive impact we鈥檝e had on taxpayers and the public entities we serve in Illinois.鈥�
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