…By Babatunde Lucas for TDPel Media.
Deutsche Bank to Acquire Numis for £410 Million
Deutsche Bank will acquire Numis for £410 million, valuing the business at 350p per share.
Deutsche Bank has been looking for a way to get closer to London’s top firms, and Numis represents a compelling strategic fit.
The acquisition may create concerns about City job losses, particularly as Deutsche Bank announced yesterday that it aims to save a further €500 million by cutting management-level staff.
Deutsche Bank pointed out that the purpose of the deal was to grow in the UK, not cut numbers, but could not rule out a small number of jobs being lost.
Deutsche Bank’s Perspective on the Deal
Fabrizio Campelli, head of corporate bank and investment bank at Deutsche Bank, said the combination would allow Deutsche Bank to realize greater revenue opportunities across its shared client base and to deepen its engagement with UK corporates.
He added that there was strong and complementary cultural alignment between the two companies, which would enable the combined business to deliver exceptional client service.
Analysis and Commentaries
The acquisition of Numis by Deutsche Bank is an example of how major financial institutions are looking to grow their businesses and deepen their engagement with clients.
The deal will enable Deutsche Bank to get closer to London’s top firms and realize greater revenue opportunities.
However, concerns about job losses may arise, particularly as Deutsche Bank has announced plans to save money by cutting management-level staff.
The bank has emphasized that the acquisition is aimed at growth rather than headcount reductions, but job losses cannot be ruled out entirely.
Finally, the deal highlights the importance of cultural alignment and exceptional client service in the financial industry.
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