Deutsche reels in Intersec
Deutsche Bank has announced the acquisition of InterSec Research Corporation, the Connecticut-based performance measurement and consultancy firm.
The move signals Deutsche’s intention to expand its global performance measurement services which already include the Edinburgh-based WM Company and the group’s own New York based arm.
Together, the three entities now provide services to over 25,000 portfolios with a value approaching E2trn.
Intersec, with European offices in London – specialising in strategic consulting to investment managers, and Zurich, will keep its marketing name and is expected to retain all present employees.
InterSec’s president and founder Chris Nowakowski, who will remain with the new company in a senior management position, says: “The reach of the combined organisation is unmatched by any of our competitors and will permit us to offer a truly global analysis to global pension managers.”
Details were not disclosed of the transaction, which is expected to close by the end of the first quarter this year.
The integrated InterSec group will report to John Tudor, head of global investment analaytics at Deutsche Bank’s Global Securities Services. Tudor comments: “The acquisition of InterSec is a major step forward in our strategy of expanding globally and growing our investment analytics business by providing access to new markets and broadening our product offering. InterSec will increase the depth of our investment research and consulting capabilites by adding expertise in market strategy, advisory and research services.”