Panmure Gordon in switch to Capital MSL

The stockbroker and investment bank has hired Capital MSL, ending its relationship with FTI Consulting. The appointment comes after a period of change for the UK-listed bank, which was founded in London in 1876.

Panmure Gordon was heavily tipped to be a take-over target during the global financial crisis, but has retained its independence after selling a stake to QInvest, the largest investment bank in Qatar, in 2009.

Earlier this year, Panmure Gordon sold its US business ThinkEquity via an MBO to focus on its core markets.

Nathaniel Webb, head of comms at Panmure Gordon, said: 'The financial crisis impacted the broking sector significantly. Panmure Gordon has emerged from this period as one of the stronger remaining houses.'

He said the bank experienced a 'strong' 2012, advising on four IPOs with technology-centric firms WANdisco, Snoozebox, Revolymer and Fusionex.

Webb added: 'We were looking to appoint a PR adviser that could communicate our strength and successes. Capital MSL's complementary geographic presence is supported by an experienced team that includes a former broker and a City business correspondent.' In particular, Webb said Capital's international footprint and strong Middle East presence aligns with Panmure's own strategic interests.

Capital came through a five-way competitive pitch to win the brief. It is thought that FTI Consulting declined to participate in the process.

Steffan Williams, managing director at Capital MSL, said: 'Panmure has a great story of success to tell and we look forward to helping it achieve this in 2013 and beyond.'

This article was first published on prweek.com