Exclusive: Panmure Liberum to ‘reinvigorate’ City market with banking tie-up
Investment bank Panmure Liberum has joined forces with Nedbank in a push to expand their reach across equity capital markets and drive dual-listings across the UK and South Africa.
London-headquartered Panmure will collaborate with Nedbank’s corporate and investment banking division to produce equity research across UK and South African markets.
The deal aims to provide clients with broader insights and access to a deeper pool of companies.
The partnership is set to “jointly pursue corporate advisory opportunities, both in the UK, and for companies dual-listed in the UK and South Africa.”
Panmure said the deal enhances access to capital by leveraging South African investors with UK and European markets and utilising the country’s growing appetite for overseas investments.
Rich Ricci, chief executive of Panmure Liberum, said the agreement would help steer the investment bank’s ambition to “reinvigorate UK capital markets”.
Ricci, a Barclays veteran, was tapped for the role in 2020 after ex-Barclays chief Bob Diamond’s Atlas Merchant Capital bought a majority stake in Panmure Gordon in 2018 alongside the Qatari royal family.
Nedbank chief Jason Quin said the partnership would provide “clients with deeper insight and broader access across key global markets” through “creating a more connected eco system for research, trading, and capital raising”.
It comes as the Financial Conduct Authority pledges an overhaul on public listing rules to support the waning City market.
The watchdog has confirmed listed companies will no longer need to publish lengthy prospectuses to issue more shares, the time between a prospectus being issued and an IPO will be halved and a new public offer platform will be launched to help smaller companies grow.
Simon Walls, executive director of markets at the FCA, said the “bold shifts” would help keep the capital markets “roaring in support of sustained growth and prosperity for the whole country”.
Panmure profits
Panmure – then Panmure Gordon – merged with City rival Liberum in May 2024 but suffered a steep loss in the year prior.
The firm swung to profitability in the first half of 2025 delivering its strongest revenue performance since the final quarter of 2021, as revenue bolstered across all divisions.