German lender Deutsche Bank has completed its previously announced £410m acquisition of UK corporate broking and advisory house Numis.

Upon closing of the acquisition, Deutsche Bank introduced Deutsche Numis, a UK investment banking and adviser for UK-listed companies.

The new entity will cater to over 170 corporate broking clients. It will also continue to strengthen its relationships with existing and new clients by offering extensive financial and advisory solutions to support the customers’ goals.

Deutsche Numis co-CEO Alex Ham said: “Deutsche Numis is now a leading force in UK investment banking, building on a long track record of providing innovative financial advice and solutions for ambitious public and private companies and investors doing business in the UK.”

According to the German bank, the transaction speeds up its Global Hausbank strategy to become the first point of contact for clients in financial services.

Besides, it expects to open up a deeper engagement with corporates across the UK.

Deutsche Numis is said to take a dominant position across advisory services, corporate broking and equity capital market (ECM), including IPOs, research, sales and execution.

As part of Deutsche Bank, Deutsche Numis will also be able to offer broader corporate finance capabilities and access to a wide international network.

Deutsche Bank corporate bank and investment bank head Fabrizio Campelli said: “The combination of Deutsche Bank’s UK and Ireland corporate finance business with Numis is a perfect partnership and we are delighted to bring the teams together under the new brand, Deutsche Numis.

“The transaction is strongly aligned to our Global Hausbank strategy, allowing us to expand our reach amongst UK and international corporates in Europe’s largest investment banking market, and underlines our long-term commitment to the UK.”

The all-cash deal was announced by Deutsche Bank in April 2023. Under the terms of the acquisition, Deutsche Bank paid a total of 350 pence per share to Numis shareholders.