ThomasLloyd Group, a financial services firm, yesterday announced the conclusion of its strategic review and its decision to focus on its existing wealth management, asset management, merchant banking and capital markets businesses, which trade under the ThomasLloyd brand, focusing on institutions and private clients. As a result, its 80% subsidiary DKM Wertpapierhandelsbank AG (DKM), a German securities trading bank formerly known as Schnigge, is no longer core to the Group's long-term strategy. The Group has therefore mandated Herax Partners to conduct an auction process for its stake in DKM.
Listed on all the main German stock exchanges, DKM is an independent securities trading house in Germany. It is a specialist market maker (Skontroführer) in over 5,600 stocks, funds and bonds on the Frankfurt, Düsseldorf and Hamburg stock exchanges.
"We are proud of the turnaround that DKM has demonstrated over the last two years in Germany," says Michael Sieg, chairman and CEO, ThomasLloyd Group. "The wider European market opportunity is unprecedented as integration and cross-border activity increases: The German traded fund market alone has shown year-on-year growth of twenty percent in the last two years, and market recognition by retail clients is picking up. DKM is positioned right at the sweet spot of this growth potential, which will further be fueled by the implementation of MiFID regulations later this year."
He continues, "With our new strategic focus for the ThomasLloyd group, we believe that it is right for us to find a new owner to support the future growth and unlock further value in the DKM business."