Press Releases
Management Update
15 October 2008 — The Board of Panmure Gordon & Co. plc is delighted to confirm the appointment of Greg Wright as chief executive of the Group's US business, ThinkEquity.
Greg was appointed as a managing director of Merrill Lynch in 1995 and in 1999 moved to London to build the firm's European corporate finance group. Within investment banking, the group that Greg established and ran was responsible for European equities, convertibles, investment grade debt, rating advisory, tax advisory, derivatives and new products. Greg joined ThinkEquity in 2006 and was appointed managing partner and chief operating officer (COO) earlier this year.
Tony Caplin, Panmure Gordon chairman said:
"I am very pleased to welcome Greg's appointment as chief executive of our US business. He has performed exceptionally well since his appointment as COO of ThinkEquity in April this year. His drive to restructure the firm's cost base and his leadership in building a management team, attracting new talent to the firm, and winning business, has been outstanding. In recent weeks we have started to see the results of this work and the restructuring that has been carried out this year, with a strong performance in US institutional equities commission and a negligible loss ratio on the US trading book."
Building on Greg's appointment and the strengthening of its transatlantic presence, Panmure Gordon is also pleased to advise that Bill Foley has rejoined the firm to spearhead the distribution of the firm's highly rated UK research to US accounts, working closely with ThinkEquity's existing equity sales desks in New York, Boston, Chicago, Minneapolis and San Francisco. Greg Glatt has also been appointed to run ThinkEquity's New York sales desk following a 12 month secondment in London.
Mr Caplin said: "Today's announcement provides an opportunity to highlight the Group's great strengths: outstanding employees; a strong capital position with our balance sheet including some twice our regulatory capital requirement; a growing transatlantic presence; and a high quality corporate client list befitting the firm's reputation as one of the City of London's most respected houses.
We continue to take the opportunity presented by current market turmoil to hire excellent talent both in the UK and the US while remaining relentlessly focused on our cost structure.
Despite the difficult trading conditions of recent weeks, we have seen continued strengthening in commission income and I am encouraged by the medium term outlook for the Group".
Enquiries:
Tim Linacre, Chief Executive
Nathaniel Webb, Group Communications Manager
Tel: 020 7459 3600
About ThinkEquity LLC — A Panmure Gordon Company
Focused on the growth sectors of the economy, ThinkEquity provides research, equity financing, M&A advisory, institutional sales and trading, wealth management and asset management services to institutional investors, corporate and private clients, venture capitalists, entrepreneurs and financial sponsors. As a Panmure Gordon company, ThinkEquity accesses the combined financial expertise of professionals based in San Francisco, New York, Boston, Chicago, London, Liverpool and Geneva. Research-driven, we remain true to our founding principles: the power of growth, focus, deep domain expertise and people. www.thinkequity.com
About the Panmure Gordon Group
Founded in 1876, Panmure Gordon & Co. (PMR.L) is a leading independent institutional stockbroker and investment bank. Encompassing its US franchise, ThinkEquity, LLC, the Group employs approximately 240 professionals across the US, the UK, Singapore and Nyon, Switzerland, offering a blend of transatlantic financial services including research, sales and trading, wealth management and asset management. www.panmure.com