Deutsche Bank’s £410m acquisition of City broker Numis threatens to upend the pecking order in UK investment banking, as the German lender aggressively bolsters its dealmaking team following a three-year pullback.
Deutsche... Deutsche Bank’s £410m acquisition of City broker Numis threatens to upend the pecking order in UK investment banking, as the German lender aggressively bolsters its dealmaking team following a three-year pullback. Deutsche had been focused on hiring dealmakers for its UK investment bank and corporate broking unit. However, the acquisition also gives it a foothold in Europe’s biggest fee pool and acts as a “springboard” to grow its list of FTSE 100 clients, bank executives told Financial News.
Deutsche’s largest acquisition since its 2009 purchase of Postbank creates one of the City’s biggest dealmaking teams, with a corporate client list to rival the largest banks’.