Deutsche Bank takes the helm
New investment manager takes over from Coutts & Co
Silver Thatch Pensions has a new investment manager. Deutsche Bank was appointed investment manager effective November 16, 2012.
The plan’s assets have already been transferred to Deutsche Bank and will continue to be invested based on existing investment policies and administrative rules. Deutsche Bank’s broad investment expertise is expected to have a positive influence on the plan’s investment returns over the long term.
Deutsche Bank replaces Coutts & Co Ltd., which had filled the role of investment manager since the plan’s launch in 1997. In the spring of 2012, Coutts & Co sold its Caribbean investment management and private banking business to RBC Wealth Management. Because the sale to RBC represented a significant change, and because RBC brought a different investment philosophy to the table, Silver Thatch’s Board of Trustees decided to hold an open competition to ensure it had the best investment manager available.
After a detailed review of all qualified local investment managers, the Board concluded Deutsche Bank was the best fit for Silver Thatch. Deutsche Bank stood out with its high Standard & Poor’s credit rating, global investment expertise, strategic and tactical strength, and local focus on service. They also provided an easy “fit” with Silver Thatch’s technology platform.
The Trustees are confident that Deutsche Bank will fill the role of investment manager with skill and expertise, helping Silver Thatch achieve its core goals of asset protection and strong growth.