Transfer of ex-Deutsche Bank employees' Jersey custody accounts to Jersey's Receiver General

1 May 2020

Court approves transfer of Jersey custody accounts to the Receiver General: What to do if you are affected

Further to our earlier announcement, on 18 March 2020 the Royal Court of Jersey (the "Court") granted its blessing to Deutsche Bank International Limited's ("DBIL") proposal to transfer the remaining custody accounts held with it to Her Majesty's Receiver General in Jersey (the "Receiver General").

DBIL is transferring these custody accounts to the Receiver General as we have been unable to obtain instructions from the account-holders (who are former Deutsche Bank group employees) about what we should do with their accounts.

The assets in the majority of these custody accounts are now held by the Receiver General, who will hold them for a period of 15 years (with DBIL intending to transfer the remaining assets following the completion of some final steps). In that 15 year period, the account-holder can request that the Receiver General transfer the assets back to them. However, once that 15 year period has expired, ownership in the assets in the accounts will transfer to the Receiver General which means that the account-holder will no longer have a claim to those assets.

If you believe your custody account with DBIL has been transferred to the Receiver General, please contact global.comp@db.com. We will then help you determine whether the Receiver General holds assets on your behalf and, if so, as to the steps you need to take to reclaim them.