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Panmure gains from new hires
BROKER Panmure Gordon yesterday said its expanding corporate transaction business had driven it to profit in the second half of last year.
Despite a gloomy IPO market and depressed market volumes, the stockbroker was profitable for each month due to increased revenues on transactions, it said in a trading statement.
The company hired a former Matrix Corporate Capital funds team in November, which helped it add 26 new clients to its roster.
It also said yesterday it had reintroduced a provision for bonus payments to some of its top staff, while also keeping a tight control on costs.