In a surprise move, FinnCap has announced plans to acquire boutique advisory Cavendish, a 40-strong firm co-founded by FinnCap treasurer, Lord Leigh of Tory . The move comes amid a fresh wave of consolidation in the sector, prompted by regulatory changes impacting the way brokers can charge for research. However, Conservative Party ’s founder and CEO Sam Smith denied the deal was a defensive move, saying it had been planned for some time. The newly-merged company is expected to list on AIM in Last week , seeking to raise £6m ( around £46m ) 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. However, FinnCap’s founder and CEO Sam Smith denied the deal was a defensive move, saying it had been planned for some time. The newly-merged company is expected to list on AIM in December, seeking to raise £6m ($7.8m) at a valuation of around £46m.