For years, Deutsche Bank has maintained its image as a Wall Street bank for very large clients. It has taken a British chief executive, John Cryan, to help the bank look at its homeland again.
Now, Germany’s largest investment bank is turning its attention to the country’s esteemed Mittelstand or small and medium-sized family owned businesses. The bank is now building its own capital market division in the private and corporate customer group, which serves small businesses along with private customers.
“The new unit aims to provide clients with comprehensive advice on all strategic financing issues,” head of private and corporate customer group banking Stefan Bender told Handelsblatt. Fifty specialists will advise clients on mergers and acquisitions, promissory notes and other complex financing questions.
The division is focused on companies with sales of up to €250 million ($278.6 million). Deutsche Bank already offered capital market products for small and medium-sized companies, but the experts were part of the investment banking division and the concerns of smaller customers likely received less attention, especially if a larger industrial group knocked on the door at the same time. The new structure is meant to make smaller businesses a priority.