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Numis Share News (NUM)
Share News for Numis (NUM)
| Share Price: 167.00 | Bid: 160.00 | Ask: 167.00 | Change: 0.00 (0.00%) |  | ||||||
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Numis in advanced talks over slice of Bear Stearns' equity team - report
Mon, 28th Apr 2008 07:02
LONDON (Thomson Financial) - Stockbroker Numis Corp is in advanced talks to carve out the U.K.
Numis Securities, in which chairman Michael Spencer holds an 11 per cent stake, is understood to be looking to hire a team of about 25 staff from Bear, headed by Nicolo Brandolini dAdda, the co-head of European equities.
Although Bear has agreed to be bought by JP Morgan Chase & Co, European equity sales and trading is an area in which there is a high degree of overlap between the two U.S. banks, meaning that the new owner is expected to retain very few of Bear's stockbrokers. U.K. equities are thought to account for about one third of Bears European stockbroking revenues.
The AIM-listed Numis, which has 180 employees, said recently that it was 'determined to grow the business organically in a contra-cyclical fashion' and would 'exploit the volatility in the market to attract staff'.
Talks with Bear staff have been underway for several weeks, but on Friday details flashed up on Numis's internal messaging system.
By Anita Likus; anita.likus@thomsonreuters.com
aml/ejb
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
LONDON (Thomson Financial) - Stockbroker Numis Corp is in advanced talks to carve out the U.K.
equities business of Bear Stearns Companies Inc., the stricken American investment bank, The Times has been told.
Numis Securities, in which chairman Michael Spencer holds an 11 per cent stake, is understood to be looking to hire a team of about 25 staff from Bear, headed by Nicolo Brandolini dAdda, the co-head of European equities.
Although Bear has agreed to be bought by JP Morgan Chase & Co, European equity sales and trading is an area in which there is a high degree of overlap between the two U.S. banks, meaning that the new owner is expected to retain very few of Bear's stockbrokers. U.K. equities are thought to account for about one third of Bears European stockbroking revenues.
The AIM-listed Numis, which has 180 employees, said recently that it was 'determined to grow the business organically in a contra-cyclical fashion' and would 'exploit the volatility in the market to attract staff'.
Talks with Bear staff have been underway for several weeks, but on Friday details flashed up on Numis's internal messaging system.
By Anita Likus; anita.likus@thomsonreuters.com
aml/ejb
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
UPDATE 1-Numis profit triples as equity market improves
* H1 adjusted pretax profit 9.2 mln stg vs 2.6 mln* H1 revenue from investment banking and broking rises almost 34 pctLONDON, May 7 (Reuters) - Britis[7 May '13]
Small UK firms want govt to boost retail investment-survey
By Kylie MacLellan LONDON, Dec 5 (Reuters) - Britain's small- and medium-sized companies (SMEs) believe the government should do more to en[5 Dec '12]
British investment bank Numis makes six new hires
LONDON, April 19 (Reuters) - Numis Corporation, one of a clutch of small-scale British investment banks, announced it had hired six new staff fr[19 Apr '12]
UK broker Numis takes over key small cap index
LONDON, March 28 (Reuters) - Numis Corporation, one of several niche investment banks operating in the City of London finance district, said it[28 Mar '12]
BRIEF-Numis says current year in line with last year
LONDON, Feb 2 (Reuters) - Numis Corp PLC: * Current year is proving to be no less challenging than the last * Remain cautious about th[2 Feb '12]
Glance-PRESS DIGEST - British business - July 7
The Daily Telegraph NUMIS PAYS 5 MLN STG TO FIDELITY TO SETTLE DISPUTE Brokerage Numis will pay $8 million to settle a dispute with[7 Jul '11]
BRIEF-Numis Corp settles Rock Well claim
LONDON, July 6 (Reuters) - Numis Corp PLC: * Numis corporation - statement re rock well claim * Numis has agreed to pay $8M without an[6 Jul '11]
BRIEF-Numis Corporation profits rise
LONDON, Dec 1 (Reuters) - Numis Corporation Public Limited Company: * Adjusted profit before tax of £7.9M, up 87% (2009: £4.2M) * Fina[1 Dec '10]
