Panmure bounces back with style

By The Newsroom
Published 4th Jan 2011, 22:12 BST
Updated 5th Jan 2011, 22:25 BST
STOCKBROKER Panmure Gordon, which faced a takeover threat from rival Evolution Group last year, saw an improvement in trading during the second half, the firm said yesterday.

Panmure said its US division enjoyed a substantial improvement during the second half, while its core UK business benefited from work on takeovers, fundraisings and restructurings.

"Both the UK and the US investment banking businesses have a good pipeline of deals for 2011," the group said in a statement.

Hide Ad
Hide Ad

Last October, Evolution decided against bidding for Panmure following opposition from both Panmure itself and one of Evolution's main shareholders. Evolution's situation was complicated by it having to get the support of Qatar's QInvest, which has a 44 per cent stake in Panmure.