G4S, the leading provider of cash transportation and security services, has been chosen by Deutsche Bank to build and manage a precious metals vault in the UK.
Working in partnership with Deutsche Bank the business has secured a ten year commercial arrangement
to establish a state of the art precious metals vault that will be built and managed by G4S, and will enable Deutsche Bank to extend and enhance their metal trading and clearing capabilities.
Discussions started with Deutsche Bank back in 2009 when increased economic volatility started to cause a rise in interest levels among investors for precious metals. With this increase comes a corresponding requirement for secure storage facilities –something G4S is expertly placed to provide. This joint venture will enable Deutsche Bank to expand the range of services they currently offer to their customer base, further strengthening its metal business, while at the same time expanding the portfolio of top-security establishments currently operated by G4S in the UK.
Raymond Key, Global Head of Metals Trading at Deutsche Bank said:
“This is a key step in Deutsche Bank’s on-going efforts to build our physical presence in commodities. We know that clients are looking to diversify where they place their physical holdings and that they value Deutsche Bank’s reliability. Deutsche Bank is delighted to partner with G4S, in this important initiative.”
James Dinsdale, Managing Director, G4S Cash Solutions, said:
“We’re delighted to have secured this partnership with Deutsche Bank. With increased investor interest in metals, comes an increased requirement for secure storage facilities, something G4S, as the leading provider of cash and secure solutions in the UK, is expertly placed to provide. This agreement represents a strategic move in the UK market place for G4S us as we continue develop and deliver world class secure solutions to our customers.”