Fidelity Investments (Fidelity) and Deutsche Bank Securities Inc. (Deutsche Bank) signed an agreement that provides Fidelitys retail and institutional brokerage clients the opportunity to participate in the initial public offerings (IPOs) and follow-on equity offerings underwritten by Deutsche Bank.
The exclusive relationship expands Deutsche Banks potential investor base to include Fidelitys extensive list of retail brokerage customers as well as customer accounts managed by Fidelitys registered investment advisor (RIA), correspondent broker/dealer and other institutional clients. Fidelitys distribution platform adds to Deutsche Banks current distribution capabilities to high-net-worth clients via its Private Bank and Private Client Services divisions.
We are thrilled about our new relationship with Deutsche Bank, one of the industrys top IPO underwriters, and believe that this partnership will help us offer our customers additional investment opportunities, typically reserved for larger institutional investors, says Mark Haggerty, president of Fidelity Capital Markets, the institutional trading division of Fidelity Investments. With our new Deutsche Bank alliance and our KKR relationship, Fidelity is well-positioned to offer our customers the ability to participate in new issue equity deals as the IPO market begins to show signs of increased activity.
Were extremely excited to join with an industry leader like Fidelity, says Seth Waugh, CEO of Deutsche Bank Americas. Fidelitys vast distribution network is an excellent complement to both our leading banking franchise and our strong Private Wealth Management distribution platform. Were confident that this collaboration will significantly benefit clients of both Fidelity and Deutsche Bank by providing a greater volume and diversity of equity investment opportunities.
L.D.