Deutsche Bank launches an Algerian subsidiary, Deutsche Securities Algeria and a partnership with the Algerian advisory company Strategica
Deutsche Bank Group today launched its presence in Algeria via a partnership with Strategica, the Algerian financial advisory company set up in 2002, in which Deutsche Bank Group has acquired a 51% stake. Deutsche Bank has also set up an Algerian subsidiary, Deutsche Securities Algeria, which will apply for the requisite licences for its development programme from the Banque d’Algérie and the Commission d'Organisation et de Surveillance des Opérations de Bourse.
Commenting on the announcement, Caio Koch-Weser, Vice Chairman of Deutsche Bank said: “The controlled transformations and dynamism of the Algerian economy over recent years, in particular the vast reform of the financial sector that has been successfully carried out, has convinced Deutsche Bank of the need to commit itself for the long term in Algeria. Deutsche Bank has received a very positive welcome over the past year from the different Algerian authorities, notably the Banque d’Algérie, the Ministry of Finance, the Minister in charge of the Financial Reform and the Treasury department.”
Mr Koch-Weser confirmed that while he was in Algiers he would be meeting a certain number of key decision-makers, including Mr Chakib Khelil, Minister for Energy and Mines, Mr Mohamed Laksaci, Governor of the Banque d’Algérie and Mr Mohamed Meziane, Chairman and Managing Director of Sonatrach.
Deutsche Bank and Strategica have developed a close partnership over recent years on different projects and they have agreed to merge the advisory teams and business of Strategica into Deutsche Bank Group going forward. Since it was founded by Mr Lachemi Siagh, Strategica has issued 31 bonds representing a total volume of nearly 155 billion Algerian dinars and has built up a reputation for excellence on the Algerian financial advisory market by structuring large-scale transactions undertaken by the major Algerian public and private companies.
Algiers will become the centre of Deutsche Bank’s business for all of the Maghreb region creating a genuine international investment bank and market house to develop a platform offering all the financial services of an investment bank that will be authorised by the banking and stock market supervisory authorities: advisory on mergers and acquisitions (M&A), structuring private equity operations, issuing and placing debt instruments, initial public offerings, project finance, structuring and distribution of diversified derivative products, etc.
Henry Azzam, CEO of Deutsche Bank in Middle East and North Africa (MENA) said: “The setting up of Deutsche Bank in Algiers is a natural development of this growth strategy in the Middle East and in North Africa.”
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