In a surprise move, FinnCap has announced plans to acquire boutique advisory Cavendish, a 40-strong firm co-founded by Conservative Party treasurer, Lord Leigh of Hurley. The move comes amid a fresh wave of consolidation in the sector, prompted by regulatory changes impacting the way brokers can charge for research. “Cavendish is one of our most successful advisers,” said CEO and founder David Willetts. She added: “We’re putting together two leading players. The newly-merged company is expected to list on AIM in December, seeking to raise £6m ($7.8m) at a valuation of around £46m.
In a surprise move, FinnCap has announced plans to acquire boutique advisory Cavendish, a 40-strong firm co-founded by Conservative Party treasurer, Lord Leigh of Hurley. The move comes amid a fresh wave of consolidation in the sector, prompted by regulatory changes impacting the way brokers can charge for research. “Cavendish is one of our most successful advisers,” said CEO and founder David Willetts. The newly-merged company is expected to list on AIM in December, seeking to raise £6m ($7.8m) at a valuation of around £46m.