UK Stockbrokers Panmure, Liberum in Talks About Merger

Panmure Gordon, the British boutique investment bank controlled by former Barclay’s Plc head Bob Diamond, and Liberum are in talks about a merger, the Times of London reported, without saying how it obtained the information.

The sector has seen many recent tie-ups as the City of London has faced a sharp downturn in capital market activity, hitting various British brokers hard. A deal between the rivals would be complex because Liberum is owned by its staff, The Times said. Panmure and Liberum did not comment to the Times.