Fidelity Investments (Fidelity) and Deutsche Bank Securities (Deutsche Bank) have entered into an agreement to provide Fidelity’s 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 is expected to expand Deutsche Bank’s potential investor base to include Fidelity’s list of retail brokerage customers as well as customer accounts managed by Fidelity’s registered investment advisor (RIA), correspondent broker/dealer and other institutional clients. Fidelity’s distribution platform adds to Deutsche Bank’s current distribution capabilities to high-net-worth clients via its Private Bank and Private Client Services divisions.
Haggerty, president of Fidelity Capital Markets, the institutional trading division of Fidelity Investments, said: “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.”
Seth Waugh, CEO of Deutsche Bank Americas, commented: “Fidelity’s vast distribution network is an excellent complement to both our leading banking franchise and our strong Private Wealth Management distribution platform. We’re 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.”
Fidelity Investments offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services.
Fidelity Capital Markets (FCM) is the institutional trading arm of Fidelity Investments. FCM executes domestic and international equity securities including block and portfolio trading, listed options and foreign exchange. It also offers securities lending, commission management and transition management.
