CMS advises Metzler Bank on transfer of Metzler Fund Xchange retail business to FIL Fondsbank

Frankfurt/Main – Frankfurt-based banking house B. Metzler seel. Sohn & Co. KGaA is transferring the retail business of its Metzler Fund Xchange (MFX) platform to FIL Fondsbank GmbH (FFB), a subsidiary of Fidelity. The transfer relates to custody account management and comprises around 50,000 accounts with holdings totalling almost EUR 2 billion, most of which are managed by independent investment intermediaries and asset managers. The migration is subject to the usual regulatory conditions.

A CMS team headed by lead partner Dr Hendrik Hirsch advised Metzler Bank on all legal aspects of the transaction. In-house, Metzler was advised by Christian Schlögell and Dr Donovan Lippe.

Frankfurt-based Metzler is a family-owned German private bank. Its focus is on capital market services tailored to the specific needs of institutions and private clients in the core business areas of Asset Management, Capital Markets, Corporate Finance and Private Banking. In addition to Frankfurt, the bank operates branches and offices in Munich, Stuttgart, Cologne/Düsseldorf, Hamburg, Atlanta, Los Angeles, Seattle, Tokyo, Beijing and Dublin. It has around 850 employees.

FFB is a German fund bank specialising in services relating to investors and their financial objectives. Its core business is the custody of investment fund units. Its services are aimed at independent financial advisors, investment firms, insurance companies and banks. FFB manages assets of around EUR 21.7 billion across some 600,000 client custody accounts. It is part of Fidelity International, an independent, owner-managed fund company.

CMS Germany

Dr Hendrik Hirsch, Lead Partner, Corporate/M&A
Andrea München, Partner, Banking & Finance
Dr Tobias Bomsdorf, Partner
Björn Waterkotte, Counsel, both Commercial
Dr Reemt Matthiesen, Partner, TMC
Stefan Lehr, Partner, Competition & EU

In-house at Metzler

Christian Schlögell, General Counsel
Dr Donovan Lippe, Corporate Counsel

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