Commerz equities deal holds lesson for big rivals LiamWardProud
The German lender is outsourcing share trading to regional broker ODDO. It’s a neat way to quit a low-margin business while keeping corporate clients happy. The logic of a consolidating sector may force others with subscale markets units, like SocGen and HSBC, to follow suit.
Context NewsCommerzbank on May 11 said it would outsource its equities trading business to Franco-German broker ODDO.The German lender will retain its equity capital markets unit, which advises corporate clients on initial public offerings and rights issues. ODDO will handle the distribution and trading of those placements with institutional investors.
Source: REUTERS/Kai PfaffenbachAn information sign is seen next to the Commerzbank logo in Frankfurt, Germany, December 3, 2013. Read more: ReutersBreakingviews »
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