Reminder: Transfer of ex-Deutsche Bank employees' Jersey custody accounts to Jersey's Receiver General
On 7 April 2020, the Royal Court of Jersey (the "Court") granted its blessing to the Deutsche Bank International Limited's (now named Deutsche Services (CI) Limited) proposal to transfer the remaining custody accounts held with it to Her Majesty's Receiver General in Jersey (the “Receiver General”).
We transferred 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 of these custody accounts are held by the Receiver General, who will hold them for a period of 15 years. 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 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.
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On 7 April 2020, the Royal Court of Jersey (the "Court") granted its blessing to the Deutsche Bank International Limited's (now named Deutsche Services (CI) Limited) proposal to transfer the remaining custody accounts held with it to Her Majesty's Receiver General in Jersey (the “Receiver General”).
We transferred 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 of these custody accounts are held by the Receiver General, who will hold them for a period of 15 years. 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 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.
This reminder will stay live until April 7, 2035.
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