Vous êtes sur la page 1sur 4

UK Corporate Broking Corporate Broking is at the heart of UK client coverage for Deutsche Bank.

Our client list is one of the fastest growing in the market place. Deutsche Bank has an exceptional platform which provides the insight to deliver informed advice on potential market reaction to proposed transactions as well as direction on some of the more difficult decisions that all management teams face. We offer our clients a stable corporate broking team, a pre-eminent market platform, insight into new sources of capital and a powerful distribution network. Deutsche Bank's corporate broking team advises on: The strategic decision process - such as M&A opportunities, competitive positioning, refinancing, board structure/remuneration, dividend policy, defence issues and capital structure Transactions - nature, structure, timing and marketability of transactions, selling the transaction to institutional investors, effective distribution and orderly after-market and UKLA/LSE liaison Ad hoc research - on a broad range of topics such as investor tiering and targeting, investor relations, corporate governance and hedge funds Regular services - presentation of key investor messages, regular market feedback, investor targeting, equity dealing for corporate clients, compliance with UKLA and LSE regulations, shareholder register analysis and organising roadshows

Corporate Broking The Corporate Broking teams role is at the interface between corporate clients and the institutional side of the business (equity research, sales, sales trading, trading and market making). All UK listed companies retain a corporate broker. The corporate broker acts as a longterm retained adviser and is specifically responsible for managing the day-to-day relationship with that corporate client and for providing, inter alia, the following services: providing equity market-related advice; executing equity related transactions; co-ordinating institutional investor relations services; and liaising with the London Stock Exchange and UK Listing Authority on regulatory issues facing listed companies.

The Corporate Broking team act for companies to ensure that their relationship with their existing and target institutional investors is conducted in a professional manner with honest and open dialogue. We believe that helping corporate clients to communicate with institutions both directly and with the help and support of our sales and research teams is mutually beneficial to the long term interest of both the corporate client and the institutional investor/shareholder. In addition to primary equity issuance on behalf of the corporate client, the corporate broker will typically arrange the purchase and sale of shares for directors and senior

employees of their corporate clients as well as other secondary market activities such as share repurchase and stake building in target companies. Investec is currently broker to approximately 95 corporates with market capitalisations ranging from around 10m to over 1bn. We aim to further build our client base to become the pre-eminent provider of corporate broking services to the UK small and mid cap market. 2006-10-17 Cairn Energy PLC is pleased to announce the appointment of Merrill Lynch International as its joint Corporate Broker with immediate effect. Key investment banking transaction highlights in 2007: Tata Steel Acquires Corus Steel (Jan 07)Deutsche Bank . The deal created the fifth largest steel producer in the world. DB acted as Financial Advisor and Corporate Broker to Tata Steel

Corporate broking Corporate broking is a dedicated team within Macquarie Capital (USA), specializing in linking c and their directors to the financial markets and investment community. We offer expertise in the following areas: Syndication Roadshows Corporate Days Research/News Investor Relations Transactions Campaign Stock Programs

CORPORATE BROKING CLIENTS Small Cap/Fledgin g brokerships 67 28 5 9 2 1 9 37

FTSE 100 brokerships JPMorgan Cazenove UBS Merrill Lynch Citigroup Deutsche Bank Morgan Stanley Credit Suisse Hoare Govett 35 29 27 17 16 15 14 13

FTSE 250 brokerships 75 50 36 34 18 12 19 36

Goldman Sachs Dresdner Kleinwort

9 6

4 26

3 39

FTSE 100: internal data. Other indices: Hemscott Quarterly Review, February 2008.

he Corporate Broking team is charged with the following key activities: Acting as the interface between corporate clients and their institutional shareholders. All aspects of investor relations inclusive of organising meetings with shareholders and assiting clients with corporate communications to their investors. Provision of share register analysis, buyer and seller identification and day-today share price and trading monitoring. Work closely with both the transactional and advisory services of the Corporate Finance department as well as the institutional stockbroking arm of the business. This ensures that the client is provided with strategic advice as to the stock markets reaction to a transaction or an equity raising initiatives. The Corporate Broking team also advises corporate clients on issues relating to the company's share capital and stock market needs; advice on prevailing market trends and the market behaviour of key investors.

The closest single advisor relationship maintained by a listed company in the UK is that of his corporate broker. The role of corporate broker is unique to the UK and dates from the historic Stock Exchange requirement that every listed company appoint a sponsor to act as intermediary between the company, its shareholders and the Stock Exchange. Today, the role centres upon providing advice, insight and expertise through strong, stable relationships with broking clients and their shareholders alike. This advice has historically centred on market related matters, but corporate broking is now recognised as both the market advocate for their clients and as a trusted adviser on all corporate issues. Linked closely to both the equity capital markets and corporate finance arenas, corporate broking operates on the confidential side of the Chinese wall. The corporate brokers role is to give the best possible understanding of the markets and what they are saying and feeling, to help communicate an investment story to the investors, and to help build a high quality investor base. They will also support the issuer in providing appropriate advisory and capital transaction support. And of course, by being on the inside of the Chinese wall, they can provide feedback as a regular market user. As part of the market abuse rules in the UK, a regular market user is a key test of whether market distortion, or giving a false or misleading impression has taken place. The corporate broker is a good sounding board of whether a planned information strategy is safe or not.

Corporate Broking Corporate Broking provides the link between the Corporate Finance department's transaction and advisory services, and the distribution efforts of our Institutional Stockbroking arm. It is also responsible for maintaining an orderly market in the shares of the underlying corporate client. The Corporate Broking department assists companies in the preparation of

presentation material and prospectuses, along with organising institutional road show presentations to existing and potential shareholders.
Our Corporate Broking department also incorporates Investor Relations. This team ensures that we effectively communicate our corporate clients' message to the market, ensuring an effective long-term relationship and support from shareholders when required.