Stockbroker Panmure Gordon scored a coup today, poaching Phillip Wale from City rival Seymour Pierce as its new chief executive.
Wale, who has worked in the City for 31 years, is expected to join Panmure Gordon in July when current chief executive Tim Linacre will move sideways to become chairman of investment banking.
Ed Warner, Panmure’s chairman, said he was delighted to have secured Wale. “With a strong background in the investment industry, he brings the right mix of broking knowledge and leadership experience to the role,” he said.
Panmure declined to say what Wale’s pay and bonus package might be but said it had not paid a transfer fee to Seymour Pierce.
Wale said: “The Panmure brand is one of the City’s oldest and most respected names in institutional broking and corporate finance. I want to invigorate our client service, grow our roster of clients and the drive the firm’s profitability.”
