Homes and Property | Home Page

Abinger captures broker Galleon

12 April 2012

STEPHEN Barclay's and John Shaw's Abinger Investments is buying private-client stockbroker and fund manager Galleon in its first move to make a financial services group out of the Alternative Investment Market-quoted shell.

Abinger is paying £1.4m for Manchester-based Galleon Assets Management, a member of the London Stock Exchange, which can act as broker for clients of City Financial Associates, another Barclay and Shaw interest. Galleon has more than 13,000 clients and settles in-house, so dealing charges can be kept down, said Abinger chairman Barclay.

Abinger is paying a further £500,000 for Barclay and Shaw's CFA, a newly-formed corporate finance adviser. The deals are being financed by raising up to £1m through a placing of up to 100m shares at 1p each.

Abinger non-executive director Ian Buckley said the aim of CFA, and of Abinger as a whole, was to become 'a leading adviser to small-to-medium companies and high net worth individuals'.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Sign up you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy notice .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in

MORE ABOUT

Cities
Corporate Finance
London Stock Exchange
Manchester