  We discuss recent results on the excitation spectra of B and D-mesons
obtained in the framework of non-relativistic lattice QCD in the quenched
approximation. The results allow for the determination of the $\msbar$-mass of
$m_{b,\msbar}(m_{b,\msbar})= 4.34(7)$ GeV in ${\cal O}(\alpha_s^3)$ in the
perturbative matching. The determination of the decay constants f_{B_s} and
f_{D_s} is discussed in detail. Results for the matrix elements of
semi-leptonic B to D decays are shown.
