Panmure Gordon is a UK based

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

. It provides a full range of services including investment banking, trading, research and sales with distribution to the UK, Europe and the US. Panmure Gordon has 150 UK listed corporate clients, over 400 institutional clients, provides research on over 200 companies, makes markets in over 400 stocks and offers broad coverage of publicly listed companies. The firm is headquartered in the

City of London The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London f ...

at 40 Gracechurch Street. Employing 150 people, Panmure Gordon is led by chief executive, Rich Ricci, who was appointed in 2020. In 2009, Panmure Gordon welcomed QInvest, the leading investment bank in Qatar, as a strategic investor. In 2017 Panmure Gordon was acquired by Ellsworthy Limited, an entity owned and controlled by QInvest LLC and by a wholly owned subsidiary of a fund managed by Atlas Merchant Capital LLC.

History

The firm was founded in 1876 by Harry Panmure Gordon (1837-September 1, 1902) as Gordon & Co. and was subsequently renamed H. Panmure Gordon & Company. The firm's founder was a well-known member of the financial community in London and in 1892 H. Panmure Gordon wrote the book ''Land of the Almighty Dollar'', a critical review of the U.S., particularly New York and Chicago. Panmure Gordon initially specialized in debt offerings for foreign governments. The firm also developed a reputation for conducting offerings for a large number of British and American breweries, including for the San Francisco Brewing Company in 1890. The company remained a small but influential player, primarily acting as a broker for a number of foreign governments. However, the firm largely avoids the wave of consolidation in the 1960s and 1970s, making only one small acquisition with the purchase of Windsor & Mabey in 1961. In 1987, the firm was acquired by

NationsBank NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...

(later part of

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...

ending more than a century as an independent firm. The firm would be sold again in 1996 to the German bank

WestLB WestLB AG (derived from ''Westdeutsche Landesbank'', i.e. "Western German state Bank") was a European commercial bank based in Düsseldorf, Germany which was mainly owned by the German state of North Rhine-Westphalia. Landesbanks are a group of pa ...

, however, the firm would languish as the overall bank experienced various issues in the late 1990s and early 2000s. As part of a major restructuring of the bank, Panmure Gordon was sold again in 2004 to

Lazard Lazard Ltd (formerly known as Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It is the world's la ...

for the nominal amount of $18 million. In February 2005, Lazard merged Panmure Gordon with a small listed brokerage firm, Durlacher. The combination resulted in Panmure Gordon once again becoming an independent firm with Lazard retaining a 33% stake in the company which was listed on London's AIM. In 2006, the firm entered into a joint venture with the

Bank of Scotland The Bank of Scotland plc (Scottish Gaelic: ''Banca na h-Alba'') is a commercial and clearing bank based in Scotland and is part of the Lloyds Banking Group, following the Bank of Scotland's implosion in 2008. The bank was established by th ...

, known as Panmure Capital, that provided financing for companies that are close to an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

on London's AIM. In March 2007 Panmure Gordon acquired ThinkEquity Partners, LLC a US-based

. By 2007, Lazard had sold its remaining interest in the firm and amidst the

Financial crisis of 2007–2009 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fin ...

, Panmure Gordon instead raised capital from outside investors. In April, Panmure Gordon announced that it had received a £17.3 million cash injection from BlueGem Capital Partners, a private equity firm. However, subsequently a higher bidder emerged and on 6 August 2009 the company announced the completion of a sale of a 47.1% stake in the business to QInvest, the largest investment bank in Qatar.QInvest buys 44% stake in 130-year old UK broking firm
Arabian Business, May 21, 2009

References

External links

* {{DEFAULTSORT:Panmure Gordon and Co. Stockbrokers Investment management companies of the United Kingdom Financial services companies established in 1876 Banks established in 1876 Investment banks Banks of the United Kingdom Financial services companies based in the City of London Brokerage firms 1876 establishments in England

History

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Further reading

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