LONDON, March 16 (Reuters) – Seymour Pierce, the
British investment bank which ended merger talks earlier this
year, has started fresh discussions with several potential
investors, a source with knowledge of the matter said on Friday.
“They are holding discussions with a number of potential
strategic investors,” said the source.
The company declined to comment on the matter. The source
did not identify the investors but said they were from overseas.
Earlier this year, Seymour Pierce ended merger talks with
Bermudan reinsurer Gerova Financial Group but other
small British investment banks have ended up being taken over as
tough market conditions spur consolidation in the sector.
Hoare Govett was sold off by Royal Bank of Scotland
to American investment bank Jefferies while last year
Investec bought British investment bank Evolution.
Seymour Pierce is owned by its staff following a management
buyout in 2003.
© Thomson Reuters 2012 All rights reserved
