WestLB has sold its own stake in Deutsche Börse, the stock exchange operator, the first time the German bank has been the bookrunner of a European equity capital markets deal in three months.

Earlier this year WestLB separated Panmure, its UK broking arm, and the WestLB brand as part of a restructuring plan to cut 600 jobs across the WestLB group. The London business cut more than 100 jobs, reducing headcount from around 350.