Panmure Liberum launches debt advisory and private capital units
Panmure Liberum has launched new debt advisory and private capital divisions and confirmed its executive team, after the completion of the merger between the two mid-sized investment banks.
The new business units are aimed at expanding the enlarged group’s business amid a challenging period for UK specialist brokers due to a lack of stock market flotations and a decreasing number of smaller London-listed firms.
The debt advisory team will be led by Dan Howlett, vice chair and head of debt advisory, and Ben Handler, managing director and head of business origination.
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The unit will help clients to access pools of liquidity from lending banks and debt funds for a wide range of purposes, including day-to-day working capital, M&A and structured financing.
Meanwhile, the private capital division will be based in Cambridge, supporting innovative and growing businesses in the healthcare and life sciences sector to access funding from investors.
The team will be led by Freddy Crossley and Ed Rayner, who have experience in funding and advising healthcare and life sciences companies.
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As previously announced, Barclays veteran Rich Ricci will lead Panmure Liberum as chief executive, with former Liberum boss Bidhi Bhoma as deputy chief executive.
Panmure Liberum confirmed that Dru Danford, who previously led Liberum’s dealmaking unit, will hold the position of head of investment banking and Stephen Jones, Panmure’s former head of investment banking, as chair of investment banking.
“Today marks a major step forward in our ambitions to create a new, positive force in UK investment banking,” said Ricci. “Together, and with the support of Atlas Merchant Capital, we have quickly identified and built new capabilities to meet the changing needs of our clients and our institutional network. Our enlarged business, deep talent pool and ambitious growth strategy has already attracted some of the sector’s leading practitioners, adding to our long-term prospects and the significant market opportunity. As a fully consolidated business now operating under one roof, we are hugely excited about the journey ahead.”
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Panmure Gordon and Liberum agreed to merge in January, creating the largest adviser to London-listed companies.
Atlas Merchant Capital, the investment firm run by former Barclays chief Bob Diamond, bought a majority stake in Panmure Gordon in 2018 alongside the Qatari royal family.
