Deals matter mostly when they are big. Occasionally they matter because they are small. A bidder fronted by former Barclays chief executive Bob Diamond is buying venerable London broker Panmure Gordon for £15.5m in cash. Which tribe is diminished most by this deal? Former investment bank bosses? Or the stock analysts whose research few readers wish to pay for?
The transformation of Mr Diamond from master of the universe to nano-cap investor grabbed the headlines. The decline of research-driven brokerage matters more. One-third of the City’s analysts are expected to lose their jobs. Middling quoted
source http://www.omnipopmag.com/2017/03/17/panmure-gordon-analyst-price-thyself/
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