LONDON, 08 November 2011 – Panmure Gordon & Co, a leading independent institutional stockbroker and investment bank and Auerbach Grayson, a New York-based brokerage firm that specialises in international trading, are pleased to announce a partnership, commencing 1 December, to distribute Panmure Gordon’s research to Auerbach Grayson’s institutional clients in the US. Panmure Gordon Group Chief Executive, Tim Linacre, commented: “This partnership is an excellent fit for Panmure Gordon. Auerbach Grayson’s extensive network of US investor contacts, including more than 500 of the world’s largest institutions, will benefit from our high quality research on a wide range of UK-listed companies. Additionally, there will be no overlap with our US business, ThinkEquity, which specialises in US growth company and technology stocks.” Auerbach Grayson & Co. Co-Founder and Managing Director, David Grayson, commented: “Our relationship with Panmure Gordon, coupled with its analysts’ extensive knowledge of the UK market, positions Auerbach Grayson as a leading broker, providing the most in-depth coverage for investors seeking to increase exposure in the region.” Established in 1876, Panmure Gordon & Co. is one of London’s most respected independent brokers. Its analysts, who cover a wide range of sectors, are highly ranked and recognised by both Thomson Reuters Extel and StarMine. Founded in 1993, Auerbach Grayson & Co. built its global coverage network by establishing exclusive partnerships with leading brokers and banks in almost 130 countries world-wide. Panmure Gordon will be its exclusive UK broker partner.