Deutsche Bank shuts down Numis US operations post takeover:
Deutsche Bank has cut Numis' valuation by about €233 million following the takeover in April ...
euronews.com/business/2024/05/28/deutsche-bank-shuts-the-door-on-numis-us-operations-after-last-years-takeover
Photo: euronews.com · view article
Deutsche Bank plans to close Numis US operationsThe planned closure follows Deutsche Bank’s £410 million acquisition of Numis in April 2023.
Key FactsMay 28, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: euronews.com
Summary created with AI assistance · Source: euronews.com
- Deutsche Bank acquired Numis for £410 million (€481.67 million) in April 2023 and renamed it Deutsche Numis.
- In February, the bank reduced Numis’ valuation by about €233 million, which is believed to have been one of the forces behind the planned US closure.
- After the closure, about half of Numis Securities’ 12 employees are expected to move to Deutsche, mainly at its New York office, while the others are likely to join other bank functions.
- In the UK, Numis analysts are to move to Deutsche Bank’s London office, while Ireland-based Numis Europe is also due to shut down, although Deutsche Bank will retain an Irish presence.
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