Deutsche Bank finalizes acquisition of UK’s Numis

Deutsche Bank announced on Friday that its takeover of London-based boutique investment bank Numis had now been completed.

The German lender had said in April that it had agreed to acquire Numis for GBP 410 million.

The combined business, Deutsche Numis, will manage over 170 corporate broking relationships and will offer advisor, corporate broking as well as equity capital markets services.

The business will be led by Alex Ham and Ross Mitchinson as co-CEOs, the lender said.

The acquisition is expected to expand Deutsche Bank’s reach into Europe’s most important investment banking market.

The shares of Deutsche Bank AG (DBKGn) were last losing 1.63% (EUR 0.165) to trade at EUR 9.945 in Frankfurt on Friday, as they extended the losses from the prior two market sessions.

Deutsche Bank’s total market cap now stands at EUR 20.191 billion.

The shares of Deutsche Bank AG went down 3.90% in 2022, compared with a 12.35% loss for the benchmark index, DAX (GDAXI).

The German lender’s shares have retreated 6.07% so far this year.