EDB Secures Malta Approval
Malta, 05.12.19 – Apex Group Ltd. (“Apex”) is pleased to announce that the European Depositary Bank (“EDB”), an Apex subsidiary, has received full Depositary authorisation from the Malta Financial Services Authority (MSFA) to operate in Malta.
The authorisation of the EDB Malta branch complements Apex’s existing depositary and custody services delivered through Luxembourg, the Channel Islands and the UK and closely follows the receipt of authorisation to operate in Ireland. The group has circa. $200bn in assets under depositary and this additional license will enable Apex to provide cross jurisdictional depositary and a market-leading custody solution to asset managers in Malta, a market where we see great potential. Apex Malta was established in 2008 and has more than 130 employees, who provide depositary, custody, middle office, corporate services fund administration, loan administration services to clients.
Through EDB, Apex offers independent banking, depositary and custody services to institutional investors and asset managers for UCITS and alternative investment structures. Apex is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds, offering a service suite that covers the full spectrum of asset classes including private equity, real estate funds, hedge funds, infrastructure funds and renewable energy funds. The firm’s partnership approach allows for the delivery of flexible, pragmatic solutions and an enhanced custody offering which enables clients to access the largest network coverage in the industry: through 104 markets.
David Rhydderch, Global Head of Financial Solutions, Apex Group Ltd, stated: “We are delighted to have received authorisation for EDB to operate in Malta, a market where Apex has had a long-established presence and where we see huge potential to provide our clients with a truly unique end-to-end solution across the whole financial service eco-system. It is particularly pleasing to follow EDB authorisation in Ireland so closely, further establishing Apex’s and EDB’s credentials and presence across Europe.”
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 40 offices worldwide and 3,000+ employees, Apex delivers a broad range of solutions to asset managers, allocators and financial institutions. The Group has continually improved and evolved its service suite to offer the broadest range of solutions in the industry, covering three key pillars: fund solutions, financial solutions and corporate solutions. Apex administers over $650 billion in assets globally.
About European Depositary Bank
European Depositary Bank SA (“EDB”) was founded in 1973 in Luxembourg. It was originally established as a subsidiary of Hamburg based private bank M.M.Warburg & CO (AG & Co.) KGaA and was acquired by Apex Group Ltd. (“Apex”) in 2019. EDB is supported by Apex’s strong global network of over 40 offices worldwide in addition to its extensive European presence with circa 2,000 employees across the region, and is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds. www.europeandepositarybank.com
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