Broker snap: Peel Hunt recommends to buy Evolution
19th Jul 2011 12:02
Peel Hunt reiterated its buy recommendation on investment house Evolution Group as the company announced the potential acquisition of BNP Paribas Private Investment Management. Evolution said that its private client investment management subsidiary, Williams de Broë, was in advanced discussions to
Read moreEvolution bidding for BNP's wealth managers
19th Jul 2011 10:26
Shares in investment house, Evolution Group, rose 10% on Tuesday after analysts gave its bid for BNP Paribas Private Investment Management the thumbs up. Evolution said that its private client investment management subsidiary, Williams de Broë, was in advanced discussions to buy BNP's wealth manage
Read morePrivate clients drive Evolution Group
17th May 2011 13:38
Investment bank and wealth manager, Evolution Group, said that despite difficult market conditions, it was profitable in the first quarter of 2011. The firm cited strong performance in its private client arm, Williams de Broë, with total funds under management growing 7% in the first four months of
Read moreInvestment banking a drag at Evolution
24th Mar 2011 17:31
Finance house Evolution saw assets under management rise to a record level in 2010. Its private clients business saw a 12% increase in assets under management to £5.8bn from £5.2bn at the end of 2009. The division made an operating profit of £8.8m, up from £4.1m in 2009, which offset an adjusted op
Read moreIG Group latest to receive FSA compensation bill
27th Jan 2011 13:24
Spreadbet firm IG Group has one month to pay £4m into the Financial Services Compensation Scheme to help refund retail investors who lost money they had in firms that collapsed last year. The invoice is in addition to the £1m provisioned for and, although the company is certainly able to afford it,
Read moreBusiness picking up for Evolution
24th Jan 2011 14:42
Broker Evolution says that trading conditions improved towards the end of 2010. This is inline with other brokers, such as Panmure Gordon and Arden, which have released trading statements and results in recent weeks. Evolution says that there is a growing pipeline of corporate transactions. That
Read morePanmure Gordon boosted by US recovery
5th Jan 2011 08:16
Stockbroker and investment bank Panmure Gordon has seen a significant improvement in its operating performance in the second half of the year. "Both our UK and US businesses generated operating profits in this six months, in spite of continued challenging trading conditions," it adds. UK investme
Read moreSmall caps round-up: Huntsworth, Porvair
19th Nov 2010 15:31
Shares in public relations outfit Huntsworth fell back after it said some of the revenues it had expected to come in this year will be delayed until 2011. It also announced that finance director Tymon Broadhead is stepping down to be replaced by Colin Adams, currently finance boss at the Harry Pott
Read moreNo Evolution bid for Panmure
19th Oct 2010 17:49
Evolution says that it has decided not to bid for fellow broker Panmure Gordon. Evolution says that it reviews Panmure's interim results and subsequently made an indicative conditional proposal to Panmure's board. That proposal was rejected and Evolution does not believe that further discussions a
Read moreQInvest considering options for Panmure stake
15th Oct 2010 15:49
It appears that Evolution may have more chance of acquiring rival broker Panmure Gordon than first thought because QInvest is rumoured to be considering selling its 44% stake in the broker. Ironically, Qatar-based investment bank QInvest has asked Lazard to advise it on its options. Lazard used to
Read moreEvolution given Panmure bid deadline
8th Oct 2010 17:29
The Takeover Panel has told broker Evolution that it has until 5pm on 28 October to make a firm bid for Panmure Gordon. Fully listed Evolution has said that it is interested in buying its AIM-quoted rival but has put no firm proposals on the table. If it does not make a bid by the deadline it will
Read moreEvolution ponders Panmure bid
23rd Sep 2010 17:03
Broker and fund manager Evolution Group says that it is considering a bid for AIM-quoted broker Panmure Gordon. Evolution says that a Panmure offer is one of a number of options under consideration. No formal discussions have taken place with Panmure. Evolution says it is waiting to assess Panmu
Read moreRecord breaking year at Evolution
25th Mar 2010 08:25
2009 was a record breaking year on many fronts for investment management firm Evolution Group. Group income, private client income, investment banking income and assets under management all hit new highs. Total income more than doubled to £129.4m in 2009 from £63.9m, with investment banking income
Read moreEvolution doubles FY revenue
1st Feb 2010 07:39
Investment management firm Evolution Group said it more than doubled full year revenue after a strong performance across all of its divisions in the second half. Increased activity in the second half of the year and it growing business pipeline makes the group confident full year earnings will be i
Read moreMonday newspaper round-up: Cadbury, RBS/Lloyds, Vodafone
9th Nov 2009 06:18
Kraft, the American food company, is poised to initiate a hostile takeover bid for Cadbury today at or slightly above the offer it made in September, which valued the British confectioner at £10.2bn, according to a person familiar with the deal. Last night Kraft was finalising plans to go directly
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