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Xchanging's Enterprise Partnership, Gothaer Invest- Und Signs Distribution Deal - Quick Facts

(RTTNews) - Xchanging plc (XCH.L) Friday said its enterprise partnership, Fondsdepot Bank, and Gothaer Invest- und FinanzService GmbH have signed an investment account administration contract.

As part of the deal, Fondsdepot Bank will take over the administration of 42 thousand investment accounts of Gothaer Invest- und. Additionally the fiduciary business relating to equity-linked life assurance, with a volume of EUR 390 million, will be transferred, and, the fiduciary business relating to equity-linked life assurance, with a volume of EUR 390 million, will also be transferred.

The administration of the customer accounts is expected to be transferred from the current platform to Fondsdepot Bank's IT platform by August 15 .

In April, Fondsdepot Bank had signed a contract with Veritas Investment Trust GmbH about the transfer of their investment accounts to Fondsdepot Bank's processing platform. Following this deal, Gothaer Invest- und FinanzService GmbH will now transfer the administration of investment accounts to Fondsdepot Bank.

With approximately 1.7 million investment accounts and EUR 31 billion assets under administration, Xchanging is the largest independent investment account processing platform in Germany.