Deutsche Bank and New Zealand-based Craigs Investment Partners (CIP) have completed a strategic alliance transaction, where Deutsche Bank Group holds a 49.9% equity interest in CIP, and the remaining 50.1% stays with existing CIP shareholders.

The new strategic alliance will see Craigs Investment Partners, a private wealth and investment management firm, remain a stand-alone business aligned with Deutsche Bank’s global investment banking platform.

The new board of CIP will comprise of Neil Craig, executive chairman; Frank Aldridge, managing director; Mike Caird, head of debt capital markets; James Miller, head of institutional equities; William Stevens, senior advisor and Tom Davies, senior advisor.

Deutsche Bank appointees include: Scott Perkins, head of global banking Australia & New Zealand; Brett Shepherd, CEO and co-head of global banking New Zealand; Michael Richardson, head of equity capital markets Australia & New Zealand; Patrick O’Rourke, head of global markets New Zealand; David Gibson, co-head of global banking New Zealand and Scott Mailer, head of equity sales Melbourne.

Frank Aldridge, managing director of CIP, said: “As we continue to focus on growing our business, the opportunity to work closely with Deutsche Bank, one of the leading global investment banks, will help develop our firm over the coming years and position us to take up a wider range of opportunities as they arise.”

Brett Shepherd, New Zealand CEO of Deutsche Bank, said: “Today we move forward together as a strong financial services platform, providing our clients with a broader range of financial products and services, global research and significant investment opportunities.”