Wed 15 Oct 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, ThinkPanmure.
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 ThinkPanmure 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 ThinkPanmure’s existing equity sales desks in New York, Boston, Chicago, Minneapolis and San Francisco. Greg Glatt has also been appointed to run ThinkPanmure’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”.
Tim Linacre, Chief Executive
Nathaniel Webb, Group Communications Manager 020 7459 3600