Craigs Investment Partners and Deutsche Bank officially form strategic alliance
Auckland, Craigs Investment Partners Limited (CIP) and Deutsche Bank AG (XETRA: DBKGn.DE / NYSE : DB) today announced the transaction completion of a strategic alliance, where Deutsche Bank Group now holds a 49.9% equity interest in Craigs Investment Partners. The remaining 50.1% stays with existing Craigs Investment Partners shareholders.
Frank Aldridge, Craigs Investment Partners’ Managing Director said, “As we continue to focus on growing our business, the opportunity to work closely with Deutsche Bank, one of the leading global investment banks, will help develop our firm over the coming years and position us to take up a wider range of opportunities as they arise.”
Brett Shepherd, Deutsche Bank’s New Zealand CEO, said, “Today we move forward together as a strong financial services platform, providing our clients with a broader range of financial products and services, global research and significant investment opportunities.”
This new strategic alliance will see Craigs Investment Partners, one of the largest private wealth and investment management firms in New Zealand, remain a stand-alone business aligned with Deutsche Bank’s leading global investment banking platform. Deutsche Bank’s strength in the region is evidenced by its number one ranking for cash equities in Australasia* and number one ranking for mergers and acquisitions in Australia.**
Deutsche Bank has committed some of its most senior people from both its New Zealand and Australian businesses to the new-look board of Craigs Investment Partners, a symbol of its confidence in the success of the alliance.
The board of Craigs Investment Partners will comprise:
* Neil Craig, Executive Chairman
* Frank Aldridge, Managing Director
* Mike Caird, Head of Debt Capital Markets
* James Miller, Head of Institutional Equities
* William Stevens, Senior Advisor
* Tom Davies, Senior Advisor
Deutsche Bank appointees
* Scott Perkins, Head of Global Banking Australia & New Zealand
* Brett Shepherd, CEO and Co-head of Global Banking New Zealand
* Michael Richardson, Head of Equity Capital Markets Australia & New Zealand
* Patrick O’Rourke, Head of Global Markets New Zealand
* David Gibson, Co-head of Global Banking New Zealand
* Scott Mailer, Head of Equity Sales Melbourne
Deutsche Bank’s New Zealand corporate finance team and Craigs Investment Partners’ equity and debt capital markets teams will also work together. The combination of Craigs Investment Partners’ established strength in distribution and New Zealand capital markets with Deutsche Bank’s leading advisory and global capital markets businesses, provides clients with an enhanced service and product offering.
**Source: Bloomberg M&A announced deals as at 6 August 2010
About Craigs Investment Partners
Craigs Investment Partners is one of New Zealand’s largest investment advisory firms, offering bespoke solutions to both private investors and corporate clients. Craigs provide the complete breadth of private client and investment management services including investment advice and management, securities trading, research, cash management, institutional dealing and investment banking.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 81,929 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
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