By Annabelle Williams, City Wire
Panmure Gordon has appointed two new directors following a
raft of changes during 2012.
The firm is one of London’s oldest stockbrokers and since
2009 has been 44%-owned by Qatari investment bank
QInvest.
QInvest’s chief executive Tamim Al-Kawari has been given a
spot on Panmure’s board with the aim of bringing
‘extensive Middle East knowledge and investment banking
experience’ to the group, said Panmure Gordon chairman Ed
Warner.
The group has also decided to appoint QInvest head of
mergers and acquisitions Caspare Warr to the board, as the
Qatari parent hopes to find areas of ‘strategic mutual
benefit’ between the two businesses.
‘Panmure Gordon continues to make considerable progress.
QInvest remains a long-term supporter of the firm and I
look forward to working with my board colleagues on areas
of strategic mutual benefit,’ Al-Kawari said.
In November last year head of Panmure’s investment bank
Tim Linacre stepped down, and his resignation was followed
by board directors Nader Shenouda and Asar Mashkoor. The
firm also announced its return to the funds market with
hires from Matrix.
The changes came some months after new chief executive
officer Philip Wale was appointed. He oversaw Panmure’s
swing back in to profit following a strategic overhaul
that saw administrative costs slashed from £11.4 million
to £8.7 million.