Milan-based Banca Leonardo has acquired Drueker & Co, an independent German investment bank. Leonardo, in existence only since 2006, has hitherto concentrated on Italy and France. Based in Frankfurt, Drueker was started in 1989 by Siegfried Drueker and employs over 40 staff. It has worked on more than 50 deals since 2004 with a combined value of over €20 billion ($28 billion). Mr Drueker will become chief executive of Leonardo’s German business, subject to regulatory approval of the deal, expected to complete in December 2007.