Ernst Russ is teaming up with Pareto Securities to establish an independent investment firm targeting the German market.

Pareto Securities GmbH is proposing offer corporate finance services to German clients, including project and bond financing solutions.

An announcement of the deal has since been retracted, with Ernst Russ explaining that it was sent out accidentally.

According to the announcement, Jan Eike Schuldt and Rolf Darboven Zapffe will be the new managing directors of the Hamburg-based investment firm.