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Deutsche Bank to acquire Numis in £410m deal

By Jonathan Easton

Deutsche Bank has announced a £410 million deal to buy London-based stockbroker Numis.

In a press release, the bank said that it would combine its UK and Ireland corporate finance business with Numis. It said that the move accelerates its 'Global Hausbank' strategy – DB’s ambitions to become a ‘global local bank’ – and would establish a leading force in UK investment banking.

Numis provides strategic advice and capital market connectivity to 166 retained corporate broking clients, including 64 clients in the FTSE 350. The company said that it recommended the offer to its shareholders.

The UK is the largest investment banking market in Europe.

Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank, said: “We have been evaluating how to accelerate the growth of our business in the UK and, as a leading UK franchise with a long history of successfully delivering superior client service and growth, Numis represents a compelling strategic fit.

“There is strong and complementary cultural alignment between Deutsche Bank and Numis that will propel the combined business to deliver exceptional client service, and we look forward to welcoming Numis management and employees to the Deutsche Bank Group.”

The news comes a day after Deutsche Bank posted its 11th consecutive quarter of profit, its longest ever period of growth after years of losses. It also followed up the results by announcing 800 job cuts in a new cost-saving drive.

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