Earlier this month the German bank moved Numis’s UK analysts into its new London office, while 15 members of Deutsche’s equity sales team switched over into offices used by Numis.
Numis’s European Union stockbroking operation based in Ireland, known as Numis Europe, is also closing.
The operation was set up two years ago to maintain its services to EU clients. Staff will be moved to Deutsche’s Frankfurt office.
Deutsche Bank will keep its own presence in Ireland.
Deutsche has had a major presence in the US since its 1999 takeover of Bankers Trust, which gave it a significant foothold on Wall Street.
Numis entered the US market in 2004 but had a more muted presence owing to its focus on smaller UK companies.
Since merging into Deutsche Numis the company has won some notable new business, including becoming broker to drinks bottler Coca Cola Europacific.
Deutsche’s US equities team is around five times the size of the Numis team.
On the US change, a Deutsche spokesman said: “Deutsche Bank has a dynamic equity platform in the US, spanning equities distribution, research and equity capital markets.
“We remain fully committed to this business and are confident that, enhanced with colleagues joining us from Numis, we can continue to deliver an outstanding quality of service to all our clients in the US market, both new and existing.”
Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.
