Deutsche Bank has completed the acquisition of institutional broker Numis and has unveiled a new offering to be known as ‘Deutsche Numis’.
The transaction is the next step in Deutsche Bank’s Global Hausbank strategy, which aims to unlock deeper engagement with corporates in the UK.
The transaction – first reported on back in April – was previously valued at £410 million according to documents seen by The TRADE.
Deutsche Numis is set to serve more than 170 corporate broking clients and is focused on providing comprehensive financial and advisory solutions.
The new entity is a “leading force in UK investment banking and the adviser of choice for UK listed companies,” said Deutsche Bank, with Alex Ham, and Ross Mitchinson having been named co-chief executives.
Both will report to Henrik Johnsson, co-head of EMEA investment banking at Deutsche Bank and former chair of Deutsche Numis, Luke Savage, who will continue to sit on the board, working closely with the leadership team.
Speaking to the update, Ham said: “Deutsche Numis is now a leading force in UK investment banking, building on a long track record of providing innovative financial advice and solutions for ambitious public and private companies, and investors doing business in the UK.”
Mitchinson added: “Continuing to deliver for our people and our clients will be at the heart of Deutsche Numis and we are confident that the professionalism, high performance, and client service that has long underpinned both companies will only be further enhanced by this combination.
“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.”
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At the time the deal was revealed, documents seen by The TRADE made clear that the move had come amidst the bank evaluating the best way to accelerate the growth of its UK business after identifying it as the largest investment banking market in Europe.
The documents also outlined that the combination of the pair’s businesses across corporate broking, strategic advisory, equity and debt capital markets, and equity sales, research and execution would work to “unlock significant value” within their franchises.
Speaking in an announcement today, Fabrizio Campelli, head of corporate bank and investment bank at Deutsche Bank highlighted how the acquisition fits into the business’ wider strategy: “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.
“We are proud to introduce Deutsche Numis as a leading corporate broker in the UK and we look forward to working with Alex, Ross and the rest of the team.”