Directorate change: 19 November 2012

Following the appointment of Phillip Wale as CEO of Panmure Gordon earlier this year, and the successful hand-over from Tim Linacre, the Board of Panmure Gordon and Mr Linacre, currently the Chairman of Investment Banking, have reached a mutual agreement that the time is right for him to leave the firm and he will be stepping down with immediate effect.

Ed Warner, Chairman, commented: “All of my Board colleagues thank Tim for his unstinting efforts on behalf of Panmure Gordon during his two decades with the firm and we wish him well for the future.”

Tim Linacre commented: “It is a pleasure to depart knowing the business is in excellent shape. ¬†Panmure’s transactions this year, including several IPOs, significant fundraisings and M&A mandates, are proof of the whole firm’s ability to execute tremendously for its clients.”