The acquisition of Numis allows Deutsche Bank to become a provider to more than 170 corporate clients, and advance its Global Hausbank strategy through a deeper engagement with the corporate client segment in the UK
Deutsche Bank to combine UK, Ireland business with Numis. (Credit: Deutsche Bank AG)
German investment bank Deutsche Bank has signed an agreement to acquire Numis, a UK-based institutional stockbroker and corporate advisor, for a total consideration of around £410m.
Numis is engaged in providing strategic advice and capital market connectivity to 166 retained corporate broking clients, including 64 clients in the FTSE 350.
Through the acquisition of Numis, Deutsche Bank will advance its Global Hausbank strategy through a deeper engagement with the corporate client segment in the UK.
In addition, the German lender plans to become a provider to more than 170 corporate clients, addressing their comprehensive financial and advisory needs.
Numis Board recommends its shareholders to unanimously support the transaction. Deutsche Bank has received a commitment from Numis’ biggest shareholder to support the transaction.
The acquisition is expected to be completed during the fourth quarter of 2023, subject to certain conditions including approval by Numis shareholders and receipt of regulatory approvals.
Deutsche Bank corporate bank and investment bank head Fabrizio Campelli said: “This Transaction is strongly aligned to our Global Hausbank strategy and has the potential to unlock significant value within both the Numis and Deutsche Bank franchises.
“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.
As part of the acquisition, Deutsche Bank intends to combine its existing corporate finance business in the UK and Ireland, with Numis’ operations.
The combination will create a large-scale UK investment bank with corporate broking, strategic advisory, equity and debt capital markets and equity research, sales, and execution capabilities.
The combined entity will leverage Deutsche Bank’s global product offering across its Corporate Bank and International Private Banking operations.
Campelli added: “The combination enables us to realise greater revenue opportunities across our shared client base and to deepen our engagement with UK corporates.
“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.”