Deutsche Bank is poised to wind down Numis’ US operations after slashing the estimated value of the broker following a takeover deal.

The German lender will axe US subsidiary Numis Securities and merge most staff into its own head office in New York.

Numis’ US office employs around 12 people and half of them will move over to Deutsche, with the remainder to be offered jobs elsewhere in the bank.

The move is the latest reshuffle at Numis as the German lender seeks to put its stamp on the business since taking charge in 2023.

Deutsche bought Numis for £410m in April 2023 and renamed the company Deutsche Numis.

In February this year it cut the estimated value of the company by €233m (£200m).

Such impairment charges often occur when companies pay more for a business than it is worth.

James von Moltke, chief financial officer at Deutsche,  previously said the impairment was not a sign that Deutsche had overpaid.

The US move is part of a wider shake-up by Deutsche.

Earlier this month the German bank moved Numis’s UK analysts into its new London office, while 15 members of Deutsche’s equity sales team switched over into offices used by Numis.

Numis’s European Union stockbroking operation based in Ireland, known as Numis Europe, is also closing.

The operation was set up two years ago to maintain its services to EU clients. Staff will be moved to Deutsche’s Frankfurt office.

Deutsche Bank will keep its own presence in Ireland.

Deutsche has had a major presence in the US since its 1999 takeover of Bankers Trust, which gave it a significant foothold on Wall Street.

Numis entered the US market in 2004 but had a more muted presence owing to its focus on smaller UK companies.

Since merging into Deutsche Numis the company has won some notable new business, including becoming broker to drinks bottler Coca Cola Europacific.

Deutsche’s US equities team is around five times the size of the Numis team.

On the US change, a Deutsche spokesman said: “Deutsche Bank has a dynamic equity platform in the US, spanning equities distribution, research and equity capital markets.

“We remain fully committed to this business and are confident that, enhanced with colleagues joining us from Numis, we can continue to deliver an outstanding quality of service to all our clients in the US market, both new and existing.”