Why does DXC own Fondsdepot Bank? Anyone know what the he-l they where thinking?
7 replies (most recent on top)
Hard to imagine M2 didn't know the companies that DXC owns though after how many years?
Nobody ever showed him a spreadsheet with names and revenue?
Because BANKS make money! Very hard for a BANK to fail
Fondsdepot was owned by the Xchanging group a long time before CSC bought Xchanging. So just a small part of a larger acquisition ML made in the bad old days of CSC.
On 28 September 2007, the European Commission announced that it has decided under Article 6(1)(b) of the EC Merger Regulation to approve the acquisition of jo--t control of Fondsdepot Bank GmbH by Xchanging Transaction Bank GmbH and Allianz Global Investors Kapitalanlagegesellschaft mbH (Allianz GI), all of which are German companies (COMP/M.4880). Xchanging Transaction is a securities transaction processing services for banks and financial service companies. Allianz GI manages and distributes investment funds. Fondsdepot Bank administers investment fund accounts. The transaction was examined under the simplified merger procedure
Probably used as finance partner to either smooth large deals (yr1 cost) Or as a factoring agent who will collect DXC client invoice $$$ for %...
Most big companies stopped this practice as it just eats margins, also subscription licensing helps avoid to a large extent.
Money Laundering. What he said.
That is where we keep exec's stock options 🤣🤣