Germany’s biggest lender has swallowed up one of London’s last independent investment banks.
Deutsche Bank has agreed to buy Numis for £410 million in an all-cash deal.
Deutsche said the acquisition will enable it to enrol Numis into its existing UK and Ireland corporate finance business.
The bank said it would create “a leading force in UK investment banking”.
Fabrizio Campelli, head of corporate and investment bank at Deutsche, said:
“We have been evaluating how to accelerate the growth of our business in the UK.
“The combination enables us to realise greater revenue opportunities across our shared client base and to deepen our engagement with UK corporates.”
Numis was founded in 1989 and specialises in advising FTSE companies on listings and raising cash.
Luke Savage, chair of Numis, said the board was recommending the deal which “represents an attractive proposition for Numis shareholders, but also provides a significant opportunity for clients, employees and wider stakeholders through this highly complementary combination”.
The deal is expected to close in the fourth quarter of the year and the Numis brand is expected to survive in some form.
