CIC and M.M. Warburg & CO have inked a long-term cooperation agreement in investment banking to extend the range of services delivered to corporates and investors.
Initially, the cooperation will focus on distribution in France, the US and Canada of the research produced by M.M. Warburg.
The alliance is said to help the two parties gain access to a broader investor base.
Warburg’s offers have significant market share in their respective countries, in particular on the segment of medium-sized companies.
CIC, part of Crédit Mutuel Alliance Fédérale, deputy CEO Philippe Vidal said: “In addition to what we offer in the United States through our subsidiary CIC Market Solutions, this cooperation expands our service offering to companies and investors in a demanding environment.
“Indeed, Germany is Crédit Mutuel Alliance Fédérale’s second domestic market thanks to TargoBank and BECM, and German Mittelstand companies lie at the heart of our business strategy.”
The agreement with Warburg includes equity capital markets as well as brokerage activities.
The companies also plan to extend their partnership to debt capital markets and structured products eventually.
M.M. Warburg & CO partner Peter Rentrop-Schmid said: “The strategic cooperation with CIC will particularly benefit small and medium-sized enterprises, which will be able to seize a wider range of opportunities with our offering, and gain access to a broader investor base.”
CIC is a France-based bank and the bank for one out of every three companies in France. It provides its clients with a French network of close to 1,900 branches and 20 000 employees, as well as international offices in 34 countries.
M.M. Warburg & CO is an independent private bank headquartered in Hamburg. It has nine offices in Germany. As a universal bank, M.M. Warburg & CO is active in private banking, asset management and business financing. The bank is a specialist in German equities, and its sales teams have deep expertise in small and mid-caps.
In February, Warburg Bank also concluded a partnership with the main Polish bank, PKO, and opened access to its research services, which specialise in Germany, to Polish, Czech and Hungarian investors.