Brokerage firm Craigs Investment Partners is making "no comment" on industry speculation Deutsche Bank is interested in taking a 20%-30% stake in the countrywide firm.
Throughout the week, brokerage firm Forsyth Barr has been linked with speculation that listed Australian-owned Macquarie wants a stake in its more than $4 billion of funds under management - a scenario rejected by its chief executive - while Craigs and Deutsche Bank have been the other targets of speculation.
It was understood that while new debt issues for banks have major underwriters behind them, the large brokerage firms at present needed the backing and financing of banks such as Macquarie or Deutsche Bank to get debt issuances and initial public offerings under way.
Craigs' managing director Frank Aldridge did not return messages left for him yesterday, while a spokesman in his Tauranga office said there would be "no comment".
Craigs is of a similar size to Forsyth Barr, with 17 branches around the country and more than 100 investment advisers, with about $4.5 billion under management.
