Deutsche pips UBS to BT Financial deal

Deutsche Bank's Tokyo offices

Deutsche Bank has bagged a contract with BT Financial, providing the independent financial advisor (IFA) and distributor with capital protection on investments made by retail investors on its wrap platform, according to several market watchers familiar with the deal.

UBS and Deutsche Bank are understood to have been the final banks on the shortlist to offer protection – often dubbed 'insurance' in the country, and operated via a constant proportion portfolio insurance (CPPI) mechanism – with