‘Deutsche Numis’: Deutsche Bank completes acquisition of City broker
Deutsche Bank has completed the takeover of City broker Numis, announcing that the newly acquired firm will be called Deutsche Numis.
The German banking giant hopes the £410m deal, announced back in April, will accelerate the bank’s strategy to become “the first point of contact” for financial services clients in the UK.
Deutsche Numis will serve more than 170 corporate broking clients with hopes that it will be a “leading force in UK investment banking”.
Alex Ham and Ross Mitchinson will become co-CEOs of Deutsche Numis, reporting to Henrik Johnsson, co-head of EMEA Investment Banking at Deutsche Bank and the new chair of Deutsche Numis.
Fabrizio Campelli, head of corporate bank and investment bank at Deutsche Bank said: “The combination of Deutsche Bank’s UK and Ireland corporate finance business with Numis is a perfect partnership and we are delighted to bring the teams together under the new brand, Deutsche Numis.
“The transaction is strongly aligned to our Global Hausbank strategy, allowing us to expand our reach amongst UK and international corporates in Europe’s largest investment banking market, and underlines our long-term commitment to the UK,” Campelli continued.
Mitchinson said: “We look forward to continuing to build our position in UK investment banking, enhanced by the scale and strength of Deutsche Bank, including the ability to draw on a global industry capability and a broader array of financing solutions.”
Deutsche Bank say the deal represents a commitment to the UK investment banking market despite the general shift away from dealmaking among global banks.
The tie-up was one of the largest examples in the consolidation of smaller investment banks in the UK and around the world as smaller investment banks are rocked by a deals slowdown and an M&A drought.