Panmure Gordon has taken complete control of an online brokerage platform launched by two former Nomura bankers as it continues to expand under new owners. Panmure has acquired the remaining stake in execution and prime services business PrimeXtend, a company in which it initially invested £2m — for a 49% holding — in February 2017. Terms of the new investment were not disclosed. PrimeXtend...
Panmure Gordon has purchased a 51% stake in PrimeXtend, taking full control of the online brokerage; it previously invested £2m ($2.6m) for a 49% stake in February 2017. The start-up, founded by two former Nomura bankers, provides multi-asset execution and prime services to mid-market institutions and plans to expand into securities lending, clearing and custody. The deal is part of an aggressive growth strategy the company has been pursing since being acquired by Bob Diamond' Atlas Merchant Capital and the Qatari royal family.