BANK OF N.T. BUTTERFIELD & SON LTD (NTB) Tops Q3 EPS by 3c

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Go back to BANK OF N.T. BUTTERFIELD & SON LTD (NTB) Tops Q3 EPS by 3c

BANK OF N.T. BUTTERFIELD & SON LTD (NTB) Reports Acquisition of Global Trust Solutions from Deutsche Bank (DB)

October 25, 2017 5:49 AM EDT

The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) today announced that it has entered into an agreement to acquire Deutsche Banks (NYSE: DB) Global Trust Solutions (GTS) business, excluding its US operations. Terms of the agreement were not disclosed.

Upon completion of the transaction, which is subject to regulatory approvals, Butterfield will take over the ongoing management and administration of the GTS portfolio, comprising approximately 1,000 trust structures for some 900 private clients. Butterfield is also offering... More