Deutsche Bank has had a representative office in South Africa since 1979 and expanded its presence in 1995 through the acquisition of local stockbroker Ivor Jones, Roy & Co. The South African business employs in excess of 180 staff, augmented by dedicated South African teams in London and New York. Deutsche Bank AG established a branch in Johannesburg in 1998. The South African office offers a full range of competitive products and services i.e. corporate finance, mergers and acquisitions, equity capital markets, project finance, fixed income and sales trading and foreign exchange, equities research and equities sales and trading.