On Friday, Deutsche Bank AG (NYSE:DB) successfully completed the strategic acquisition of Numis Corp PLC for £410 million ($560 million), leading to the formation of a new entity, Deutsche Numis. The move is part of Deutsche Bank's Global Hausbank strategy to become the primary financial services provider in the UK market.
Following the acquisition, trading of Numis Corp PLC's shares was suspended. Despite this development, Deutsche Bank's shares experienced a 1.7% dip, closing at €9.94 ($10.45) on Friday. The cancellation of Numis' listing on AIM is scheduled for Monday.
The newly formed Deutsche Numis is set to leverage the strengths of both firms, particularly their global industry capabilities and broader financing solutions, with an aim to solidify its position in UK investment banking. The firm brings together over 170 corporate broking clients under one umbrella and intends to be the leading force and preferred adviser in this sector.
The leadership team at Deutsche Numis includes co-CEOs Alex Ham and Ross Mitchinson, who will report to Henrik Johnsson, co-head of EMEA Investment Banking. Luke Savage also joins the team in a key role.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.