Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Panmure Gordon and Liberum to join forces
(Sharecast News) - City brokers Panmure Gordon and Liberum are to merge, it was announced on Tuesday. The tie-up will create one of the UK's largest advisors to quoted companies, with more than 250 retained corporate clients and around 300 employees.
Liberum founder Shane Le Prevost will become chair, while Panmure head Rich Ricci becomes chief executive. The Barclays veteran joined Panmure in 2020.
Sixteen-year old Liberum is owned by its employees, while Panmure - which was founded in 1876 by Harry Panmure Gordon - is owned by Atlas Merchant Capital, the investment firm co-founded by former Barclays boss Bob Diamond.
Diamond said: "This merger will lift the level and quality of service to mid and small-cap businesses and investors in the UK and beyond.
"These businesses are the lifeblood of the UK economy."
Ricci, previously head of Barclays' investment bank, said: "Over the last three years we have doubled our corporate client base, made significant investment in talent and materially increased our share of the UK market across our trading and execution capabilities.
"In Panmure Liberum, we are combining two highly complementary and culturally aligned businesses."
Le Prevost added: "We have found a long-term partner with shared values and strategic ambitions to enable us to capitalise on the significant opportunities ahead, and take both firms to the next level."
The deal comes at a tough time for the advisory market, which has been knocked by a slump in activity in UK capital markets as well as falling research fees.
Panmure reported a £16m loss in 2022, while Liberum posted a £9m loss, its first ever.
The two firms said that with the support of Atlas, the combined business would have "substantial" financial backing and the liquidity to support its long-term ambitions, as well as being a "resilient and scalable platform that is structured to grow and to be consistently profitable through the cycle".
It would also benefit from cost and revenue synergies, they noted.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.