Execution buys Noble to create ‘new force’
TRICORN Partners, the corporate finance advisory firm, is set to be taken over by Japanese investment bank Nomura. Guy Dawson and Justin Dowley, who have been running Tricorn for seven years since leaving Merrill Lynch, will join Nomura as vice-chairmen of Europe, Middle East and Africa investment banking. This marks a reversal of the trend for bankers to ditch large institutions in favour of smaller independent boutiques. It is understood that part of the undisclosed acquisition price will depend on the earnings the …
TRICORN Partners, the corporate finance advisory firm, is set to be taken over by Japanese investment bank Nomura.
Guy Dawson and Justin Dowley, who have been running Tricorn for seven years since leaving Merrill Lynch, will join Nomura as vice-chairmen of Europe, Middle East and Africa investment banking.
This marks a reversal of the trend for bankers to ditch large institutions in favour of smaller independent boutiques.
It is understood that part of the undisclosed acquisition price will depend on the earnings the bankers generate over the next two years.
The move follows Nomura’s acquisition of Lehman Brothers’ European and Asian M&A and equities business.
On another note…
Execution , the stockbroker, has bought Noble Group in a move that it said would create a “new force” in international investment banking.
Noble, a mid and small-cap specialist investment bank, will add a corporate finance arm to Execution’s existing research, sales and trading operations to form a stand-alone investment bank.
Nick Finegold, founder of Execution, will become executive chairman of the enlarged group, to be named Execution Noble.
Simon Brookhouse, current chief executive, will stay in control of the larger company, while Angus Macpherson, Noble’s current chief executive, will become deputy chief executive.
