Investment banks Cenkos and finnCap to merge in all-share deal

The two companies have virtually identical market capitalisations of £21m and £22m respectively.Other details of the deal, including the leadership of the combined firm and which brand it would use, were unclear.

Despite their lowly valuations, the deal will be closely watched in the City by both peers and the firms' clients. A slowdown in corporate activity has driven a hunt for enhanced cost savings among brokers, with the prospects for corporate activity this year dampened by the economic backdrop. FinnCap has endured a difficult period, parting company with Sam Smith, its chief executive and one of relatively few female City bosses, last summer.

Other broking firms are expected to participate in industry consolidation, including WH Ireland, which is under siege from an activist shareholder.

Scared of going bust in the bank crash perhaps...!! And what do we say, pay up on bad bets...criminals.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Customers pay price as water companies spend twice as much on debt as on environment investmentMore than twice as much is spent on debts and dividends by England’s nine water and sewage companies as on reducing sewage in rivers and making other environmental improvements, analysis by theipaper has found 💧 DavidParsley50 reports
Source: i newspaper - 🏆 8. / 89 Read more »

Insiders at London office of Credit Suisse where investment bankers face mass layoffs describe anger at 'arrogance' of bosses that led to bank's woesThe Swiss government has temporarily suspended bonus payments to Credit Suisse staff despite the lender earlier this week saying it would complete such payments before the UBS takeover is completed. They were told, last Thursday, by the Exec Committee, that there was nothing to worry about and the media were over-reacting. Unbelievable that the same Committee will walk away from this with millions My word, are they really. What's the world coming to one asks oneself . Should be blacklisted...
Source: SkyNews - 🏆 35. / 67 Read more »