MainFirst Bank AG will acquire the institutional brokerage business in European equities from Raymond James in Paris and London effective 1 December 2018.
As part of this acquisition, MainFirst will also add 29 employees from Raymond James in Paris including Research, Sales and Sales Trading and a further six Research employees in London. These individuals will be integrated into the MainFirst organisation.
The acquisition will strengthen MainFirst’s strategic position, particularly in France.
Ebrahim Attarzadeh, CEO and head of Equities at MainFirst Bank AG said: “With this step, we will achieve economies of scale, better leverage our competitive advantages in the new world of MiFiD II and an expanded platform to serve our clients.”
As a result of the acquisition, the number of European shares covered by MainFirst sees a rise by approximately a quarter to 400, with the number of MainFirst’s institutional clients in France also increasing significantly.