New Indonesian equity JV for Deutsche

Deutsche Bank grabs UBS''s Indonesian research department for new local market equity JV.

Deutsche Bank has hired UBS' entire Indonesia equity research team consisting of five people to form the core of a new local markets equity operation. The operation will be a joint venture, 60% owned by the local staff and 40% owned by Deutsche Bank.

It will undertake all Deutsche's research and sales efforts in Indonesia while execution and trading will remain with Deutsche Bank, through its local operation called Deutsche Bank Securities Indonesia. Last month...

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