# Panmure Gordon > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Panmure_Gordon > Markdown URL: https://mediated.wiki/source/Panmure_Gordon.md > Source: https://en.wikipedia.org/wiki/Panmure_Gordon > Source revision: 1318114631 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) **Panmure Gordon** was a UK based [investment bank](/source/Investment_bank), providing a full range of services including investment banking, trading, research and sales with distribution to the UK, Europe and the US. On 1 July 2024 Panmure Gordon merged with Liberum Capital to create [Panmure Liberum](https://www.panmureliberum.com). The firm was headquartered in the [City of London](/source/City_of_London) at [40 Gracechurch Street](/source/40_Gracechurch_Street). Upon the merger with Liberum, the newly-formed Panmure Liberum moved to Ropemaker Place, 25 Ropemaker Street. Employing 150 people, Panmure Gordon was led by chief executive, [Rich Ricci](/source/Rich_Ricci), who was appointed in 2020. In 2009, Panmure Gordon welcomed QInvest, the leading investment bank in Qatar, as a strategic investor. In 2017 Panmure Gordon was acquired by Ellsworthy Limited, an entity owned and controlled by QInvest LLC and by a wholly owned subsidiary of a fund managed by Atlas Merchant Capital LLC. ## History The firm was founded in 1876 by Harry Panmure Gordon (1837-September 1, 1902) as Gordon & Co. and was subsequently renamed H. Panmure Gordon & Company. The firm's founder was a well-known member of the financial community in London and in 1892 H. Panmure Gordon wrote the book *Land of the Almighty Dollar*, a critical review of the U.S., particularly New York and Chicago.[2] Panmure Gordon initially specialized in debt offerings for foreign governments. The firm also developed a reputation for conducting offerings for a large number of British and American breweries, including for the San Francisco Brewing Company in 1890.[3] The company remained a small but influential player, primarily acting as a broker for a number of foreign governments. However, the firm largely avoided the wave of consolidation in the 1960s and 1970s, making only one small acquisition with the purchase of Windsor & Mabey in 1961. In 1987, the firm was acquired by [NationsBank](/source/NationsBank) (later part of [Bank of America](/source/Bank_of_America) ending more than a century as an independent firm. The firm would be sold again in 1996 to the German bank [WestLB](/source/WestLB), however, the firm would languish as the overall bank experienced various issues in the late 1990s and early 2000s. As part of a major restructuring of the bank, Panmure Gordon was sold again in 2004 to [Lazard](/source/Lazard) for the nominal amount of $18 million.[4][5][6] In February 2005, Lazard merged Panmure Gordon with a small listed brokerage firm, Durlacher, which had lost money trying to establish a venture funding business during the [dot-com boom](/source/Dot-com_bubble).[7] The combination resulted in Panmure Gordon once again becoming an independent firm with Lazard retaining a 33% stake in the company which was listed on London's [AIM](/source/Alternative_Investment_Market).[8] In 2006, the firm entered into a joint venture with the [Bank of Scotland](/source/Bank_of_Scotland), known as Panmure Capital, that provided financing for companies that are close to an [initial public offering](/source/Initial_public_offering) on London's [AIM](/source/Alternative_Investment_Market).[9] In March 2007 Panmure Gordon acquired ThinkEquity Partners, LLC a US-based [investment bank](/source/Investment_bank).[10] By 2007, Lazard had sold its remaining interest in the firm[11] and during the [2008 financial crisis](/source/2008_financial_crisis), Panmure Gordon instead raised capital from outside investors. In April, Panmure Gordon announced that it had received a £17.3 million cash injection from BlueGem Capital Partners, a private equity firm.[12] However, subsequently a higher bidder emerged and on 6 August 2009 the company announced the completion of a sale of a 47.1% stake in the business to[13] QInvest, the largest investment bank in Qatar.[14][15][16][17] Per [The Sunday Times](/source/The_Sunday_Times), by 2016 London tycoon [Mehmet Dalman](/source/Mehmet_Dalman)'s flagship investment bank Wealth Management Group ("WMG") was plotting a takeover of Panmure Gordon and had built up a 9% stake in it and had "hatched a turnaround plan for the struggling company".[18][19][20] ## References 1. ["Panmure - Heritage"](https://web.archive.org/web/20150907095321/http://www.panmure.com/about-us/heritage/). Archived from [the original](http://www.panmure.com/about-us/heritage/) on 2015-09-07. Retrieved 2015-08-05. 1. [Gordon's New-York Trip; A London Stock Exchange Member Writes a Book. The Land of the Almighty Dollar](https://query.nytimes.com/gst/abstract.html?res=9C01E5DC1238E233A25756C1A96E9C94639ED7CF). New York Times, August 15, 1892 1. [The history of foreign investment in the United States to 1914](https://books.google.com/books?id=eZkaMjTzBdcC&pg=PA490). 1989, p. 490 1. [WestLB: Battling To Get Off The Ropes](https://web.archive.org/web/20040203040108/http://www.businessweek.com/magazine/content/04_06/b3869153_mz035.htm). BusinessWeek, February 9, 2004 1. [Lazard strengthens broking arm with Panmure takeover](https://www.independent.co.uk/news/business/news/lazard-strengthens-broking-arm-with-panmure-takeover-578473.html)[dead link], The Independent, January 8, 2004 1. [Lazard puts Panmure Gordon to work](http://www.efinancialnews.com/story/2004-02-02/lazard-puts-panmure-gordon-to-work). Financial News, February 2, 2004 1. [*Dot.coms sting Durlacher for £14m*](https://www.theguardian.com/media/2001/mar/01/newmedia.citynews1), in *The Guardian*, 1 March 2001 1. [Panmure Gordon pair celebrate turnaround with Durlacher deal](https://www.independent.co.uk/news/business/news/panmure-gordon-pair-celebrate-turnaround-with-durlacher-deal-484015.html). The Independent, February 2, 2005 1. [Lazard nets £40m as BoS buys into Panmure Gordon](https://web.archive.org/web/20110611221447/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article788208.ece). The Times, January 14, 2006 1. Press Release: [Panmure Gordon & Co. Announces Merger with ThinkEquity Partners](http://www.thinkequity.com/about/releases/panmure_022007.html) [Archived](https://web.archive.org/web/20070228130542/http://www.thinkequity.com/about/releases/panmure_022007.html) 2007-02-28 at the Wayback Machine 1. [Lazard set to sell Panmure slice](http://ftalphaville.ft.com/blog/2007/05/08/4338/lazard-set-to-sell-panmure-slice/). Financial Times, May 8, 2007 1. [Panmure Gordon secures future with BlueGem aid](https://web.archive.org/web/20110611221543/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6101369.ece). The Times, April 16, 2009 1. ["Regulatory Announcements"](https://web.archive.org/web/20120214154955/https://www.panmure.com/InvestorRelations/CompanyAnnouncements.aspx). Archived from [the original](http://www.panmure.com/InvestorRelations/CompanyAnnouncements.aspx) on 2012-02-14. Retrieved 2012-06-29. 1. [Panmure Gordon Annual General Meeting Statement](http://www.advfn.com/p.php?pid=nmona&article=42943862&symbol=L%5EPMR) 1. [Panmure Gordon to push into the Gulf as Qatar wins stake](https://web.archive.org/web/20110611213430/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6337488.ece) The Times, May 22, 2009 1. ["Panmure Gordon sells 44pc stake to Qatar investment bank QInvest"](https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5360085/Panmure-Gordon-sells-44pc-stake-to-Qatar-investment-bank-QInvest.html). *[The Daily Telegraph](/source/The_Daily_Telegraph)*. 21 May 2009. [Archived](https://web.archive.org/web/20200922090942/https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5360085/Panmure-Gordon-sells-44pc-stake-to-Qatar-investment-bank-QInvest.html) 2020-09-22 at the Wayback Machine. 1. [QInvest buys 44% stake in 130-year old UK broking firm](http://www.arabianbusiness.com/556346-qatar), Arabian Business, May 21, 2009 1. ["City dealmaker eyes Panmure Gordon bid"](https://www.thetimes.com/business-money/markets/article/city-dealmaker-eyes-panmure-gordon-bid-9ttd3f6px). 6 August 2016. 1. ["PRESS: Mehmet Dalman Fund Eyes Bid for Panmure Gordon - Sunday Times | Financial News"](https://www.lse.co.uk/news/press-mehmet-dalman-fund-eyes-bid-for-panmure-gordon-sunday-times-6qg1pqly95ize2u.html) 1. ["Panmure Gordon slips to £16m loss under former Barclays dealmaking boss Rich Ricci"](https://www.fnlondon.com/articles/panmure-gordon-slips-to-16m-loss-under-former-barclays-dealmaking-boss-rich-ricci-20231006) ## Further reading - H. Panmure Gordon. *[Land of the Almighty Dollar](https://books.google.com/books?id=KAZ1hAbwDBsC)* London: Frederick Warne & Co., 1892 - B. H. D. MacDermot. *[Panmure Gordon & Co., 1876-1976: a century of stockbroking](https://books.google.com/books?id=3EHfGwAACAAJ)*. 1976 ## External links - [Official website](http://www.panmure.com) --- Adapted from the Wikipedia article [Panmure Gordon](https://en.wikipedia.org/wiki/Panmure_Gordon) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Panmure_Gordon?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.