Allen & Overy has advised SEB in Germany on the planned transfer of 26 securities funds with a total volume of approximately EUR 2.5 bn to the Asset Servicing business unit of Hauck & Aufhäuser Privatbankiers KGaA as the new depositary. The funds comprise 14 mutual investment funds and 12 special funds of the investment management company Universal Investment. SEB now intends to focus even more on its core business with corporate and institutional clients on the German market.

The Allen & Overy team comprised partners Dr. Hartmut Krause (corporate/M&A) and Frank Herring (capital markets), senior associate Marco Zingler (capital markets) and associate Dr. Marcus Heinrich (corporate/M&A, all Frankfurt).