Execution Holdings, a full-service agency broker, has agreed to acquire Noble Group, an independent mid and small cap investment bank.
The enlarged group will be called Execution Noble. The offer is subject to the consent of the Financial Services Authority.
The transaction will create a new force in international investment banking with strengths in execution; equity sales and trading; research; M&A; corporate finance; corporate broking; equity capital markets; and corporate access.
Execution Noble will have some 250 staff and wholly-owned operations in London, Edinburgh, Paris, Frankfurt, New York, Boston, Greenwich Connecticut, Mumbai and Hong Kong.
Nick Finegold (pictured), executive chairman of Execution, says: “Noble’s strengths in mid and small cap company investment banking and research, with high Extel and Asia Money rankings and coverage of over 180 stocks, are widely acclaimed. Combined with Execution’s market-leading capabilities in research, sales and trading capability across over 120 European and international big cap stocks, we will between us create a new force in international investment banking.”
Angus Macpherson, chief executive of Noble, adds: “Execution is a unique company: an independent securities house that has demonstrated the ability to compete successfully against the bulge bracket banks. Adding Noble’s expertise in small and mid cap stocks and investment banking enables Execution Noble to provide a full range of services to corporate and institutional clients. The combined business of Execution Noble will offer a credible, alternative to traditional full-service investment banks to the benefit of all our clients, staff, and other stakeholders.”
Both companies are majority owned by their respective managements and staff. The group will be headquartered in London while retaining a strong Scottish presence.
