Commerzbank: to outsource equities business to Oddo BHF

(CercleFinance.com) - Commerzbank announced on Tuesday that it would end its equity trading research business, outsourcing it to Oddo BHF under a cooperation agreement signed with the Franco-German private bank.


The German bank justifies its decision by the desire to reduce the size of its market banking activities and to propose a "more efficient" offer to its corporate clients.

It said that this will also enable it to reduce its costs and limit the complexity of operations without compromising the service we offer our clients.

The banking group says that its collaboration with Oddo BHF will enable its clients to benefit from equity coverage that goes far beyond the borders of Germany, Austria and Switzerland, the scope it has offered to date.

Commerzbank now intends to limit its activities in capital markets banking to businesses such as IPOs, equity placements, capital increases and convertible issues.

The share is down about 1% at lunchtime on Tuesday.


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