Stagecoach signs up Deutsche Bank

PERTH-based bus and train operator Stagecoach appointed Deutsche Bank as joint corporate broker to the company yesterday, alongside its existing broker, Nomura.

Deutsche Bank is not replacing any other City firm, Stagecoach having previously operated formally with only Nomura. A source at the group, co-founded by chief executive Sir Brian Souter, said: “Most companies of Stagecoach’s size have two brokers.”

The transport company announced a £340 million capital return to shareholders last month.