Nedbank and Deutsche alliance
Nedbank and Deutsche Bank announced a Southern African corporate banking alliance on Friday.
Nedbank and Deutsche Bank announced a Southern African corporate banking alliance on Friday morning.
Nedbank said in a statement the alliance would not involve creating a legal entity or joint venture structure.
“There is no impact on existing advisory and financing businesses, which remain separate.”
The scope of the alliance will cover managing initial public offerings, rights offers and share placements. It will also include working together on bond issues and trading.
The alliance will entail Nedbank’s Corporate and Investment Banking (CIB) division working with the South African division of Deutsche Securities.
“The co-operation with Deutsche Bank will enhance Nedbank’s ability to provide our clients with access to deeper sources of capital globally,” Nedbank CIB group managing executive Brian Kennedy said. “The co-operation offers a creative and innovative way to expand Deutsche Bank’s client footprint,” Deutsche Bank SA chief country officer Muneer Ismail said.
“Through our co-operation with Nedbank, we aim to broaden our franchise, further underlining our commitment to both the country and the region,” said Alasdair Warren, the German bank’s head of corporate finance for the Europe, Middle East and Africa region.