What Panmure Gordon does

Panmure Liberum, formed in May 2024 through the merger of Liberum Capital and the legacy Panmure Gordon (founded 1876), is the UK's largest independent investment bank. It operates as a full-service, FCA-authorised (FRN 403721) institutional and corporate stockbroking platform organised around four core divisions: Investment Banking (Corporate Advisory, Equity Capital Markets, Corporate Broking & IR, M&A, Growth Capital Solutions, and the 2024-launched Debt Advisory), Execution Services (sales trading, market making in over 720 stocks, ETF and international trading), Sales (institutional sales, corporate access, conferences), and Research (sector coverage delivered through a Research Portal). Two additional operating extensions were added in July 2024 — Panmure Liberum Cambridge Capital (PLCC) for healthcare/life sciences private capital and Liberum Wealth in Guernsey for private client wealth management — and the US platform is operated through Panmure Liberum Inc., a FINRA member regulated by the SEC.

The firm serves 185 listed corporate clients and covers more than 500 companies and funds, with execution and distribution reach spanning 900+ market counterparties across UK, US, Europe and Asia. Revenue is generated through four streams: investment banking advisory mandates, execution and market-making transaction fees, institutional sales/corporate access, and recurring research subscriptions charged to institutional clients (corporates do not pay for research). Go-to-market is sales-led and relationship-driven, with the firm combining research, trading and banking to originate mandates. Visible deal flow through early 2026 included Zanaga Iron Ore (£5.6m), 1Spatial (£87m M&A), Life Sciences REIT (£151m), Tapir Holdings (£67m IPO), Sirius Real Estate (€300m debt advisory), Plus500 (£70m), Optima Health (£90m), and Fermi America's dual NASDAQ/LSE listing.

The business is privately held and backed by Atlas Merchant Capital, with no public ticker. Strategic partnerships with Nedbank CIB (South Africa), The Bank of Bahrain and Kuwait (GCC), and Petra Capital (Australia) — all signed in 2025 — extend the platform's geographic surface, while offices in London, New York, Cambridge, Leeds and Guernsey anchor onshore client coverage. Leadership comprises CEO Rich Ricci, Deputy CEO Bidhi Bhoma, COO Matthew Press, and division heads across Investment Banking, Research, Execution, and Sales.

Name

Panmure Gordon

Legal name

Panmure Liberum Limited

Website

https://panmure.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

101–250 employees

Short description

Panmure Liberum is the UK's largest independent investment bank, formed in May 2024 via the merger of Liberum Capital and legacy Panmure Gordon. It provides full-service investment banking, execution, institutional sales, and equity research to 185 listed corporate clients across the UK, US, and select international markets, backed by Atlas Merchant Capital.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

• Investment banking services
• Equity research
• Market making execution
• Corporate broking advisory
• Mergers and acquisitions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Banking Advisory: Revenue from strategic advice across capital raising, M&A, corporate broking and debt advisory services, informed by deep sector expertise and public markets insight.
2. Execution Services: Revenue from liquidity provision, market making and execution across UK and international equity markets. The firm is market maker in over 720 stocks with All-Cap execution capabilities.
3. Institutional Sales: Revenue from institutional sales relationships, corporate access, conferences and events connecting institutional investors with corporate clients.
4. Research: The firm charges institutional clients for research coverage. Panmure Liberum is not contracted by corporate clients to produce research.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Panmure Liberum is a full-service UK investment bank providing strategic advisory across capital raising, M&A, corporate broking and debt advisory; liquidity provision and market making across UK and international equity markets (over 720 stocks); institutional sales and corporate access for 900+ market counterparties; and high-conviction equity research delivered to institutional clients. The firm serves listed corporate clients, asset managers, hedge funds, and institutional investors globally.

Product overview

Panmure Liberum (formed by the May 2024 merger of Panmure Gordon and Liberum Capital) is a full-service independent investment bank operating as a unified platform across four core divisions: Investment Banking, Execution Services, Sales, and Research. The Investment Banking division encompasses Corporate Advisory, Equity Capital Markets, Corporate Broking & IR, Mergers & Acquisitions, Growth Capital Solutions, Debt Advisory (new 2024), and the specialist Private Capital arm Panmure Liberum Cambridge Capital (PLCC). Execution Services provides Sales Trading, Investment Funds, International Trading, ETF Trading, and Market Making — with a combined execution desk that is market maker in over 720 stocks across UK, US, Europe and Asia, servicing over 900 market counterparties. Research delivers high-conviction sector analysis to institutional clients via the Research Portal. The firm serves 185 listed corporate clients and covers 500+ companies and funds.

Differentiator

Problem solved

Functional benefit

Brands

• Panmure Liberum Cambridge Capital (PLCC): Specialized private capital offering based in Cambridge that supports innovative and growing companies in the healthcare and life sciences sector to access capital from its global network of investors.

Products and services

• Investment Banking Strategic advisory services covering capital raising, M&A, corporate broking and debt advisory, informed by deep sector expertise and public markets insight. Sub-services: Corporate Advisory, Equity Capital Markets, Corporate Broking & IR, Mergers & Acquisitions, Growth Capital Solutions, and Debt Advisory. For listed corporate clients in the UK and internationally.
• Execution Services Liquidity provision, market making and high-touch execution across UK and international equity markets, supported by experienced traders and market intelligence. Sub-services: Sales Trading, Investment Funds, International Trading, ETF Trading, Market Making. For institutional clients and market counterparties globally.
• Sales Institutional sales operations connecting research, trading and banking to uncover relevant opportunities for institutional investors. Sub-services: Institutional Sales, Corporate Access, Conferences & Events. For asset managers, hedge funds, and institutional investors.
• Research High-conviction research across core industry sectors, driven by deep company knowledge and disciplined financial analysis. Delivers equity research coverage and insight to institutional clients via the Research Portal. Panmure Liberum is not contracted by corporate clients to produce research.
• Debt Advisory A specialised team within Investment Banking that advises corporate clients across the capital structure on structuring, pricing and accessing liquidity from lending banks and debt funds for purposes including working capital, capex, M&A, pre-/post-IPO, rescue capital and structured financing. Includes mandates such as the €300m debt advisory for Sirius Real Estate and £90m Optima Health mandate.
• Panmure Liberum Cambridge Capital (PLCC) A specialised Private Capital offering based in Cambridge supporting innovative and growing companies in the healthcare and life sciences sector to access capital from a global network of investors, providing guidance throughout the entire business lifecycle including all stages of private funding.
• Research Portal An online research portal providing institutional clients with access to Panmure Liberum's equity research, analysis, and market insights. Accessible to institutional subscribers.
• Liberum Wealth Specialist wealth management advice and long-term support for private clients, operated from the Guernsey office as a wholly owned subsidiary of Panmure Liberum.

Named customers11 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and secondary.

• The Bank of Bahrain and KuwaitcoreStrategic or Co-development Partner · 3 November 2025Panmure Liberum partners with The Bank of Bahrain and Kuwait to enhance investment banking capabilities in Bahrain and the GCC region. The partnership expands the firm's reach into the Gulf Cooperation Council markets.
• Nedbank CIBcoreStrategic or Co-development Partner · 15 July 2025Panmure Liberum and Nedbank CIB partner across equity research, trading and advisory. This partnership enables cross-border collaboration between the UK investment bank and South African financial institution to serve clients across both markets.
• Petra CapitalsecondaryChannel Partner/ Reseller/ Distributor · 14 March 2025Panmure Liberum expands distribution capabilities in Australia through partnership with Petra Capital, enhancing the firm's ability to serve Australian institutional clients and access to regional capital markets.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Singer Capital Markets: UK-focused investment bank providing corporate broking, research and institutional sales to AIM and main-market listed companies. Highly comparable client base and UK small-mid cap equity specialization to Panmure Liberum.
• Peel Hunt: UK-listed mid-market investment bank and broker offering ECM, M&A advisory, research and execution services to UK small and mid-cap companies — directly comparable in target client base (UK-listed corporates and institutional investors) and product mix (Nomad, broker, research, market making).
• WH Ireland: UK wealth manager and corporate broker with capital markets advisory operations serving small and mid-cap UK corporates — directly comparable in target market and core broking/IB product offerings.
• Cavendish (formerly finnCap): UK mid-market corporate finance and broking firm specializing in smaller-cap and growth companies — directly comparable in serving UK listed SMEs with ECM, M&A advisory and broking services.
• Shore Capital: Independent UK investment banking and brokerage group with operations in equity capital markets, research and market making — comparable scope and product coverage to Panmure Liberum's UK-focused franchise.
• Winterflood Securities: UK market-making firm and broker specializing in liquidity provision in small and mid-cap UK equities — directly comparable in market-making operations, with strong overlap in the 720+ stock universe Panmure Liberum makes markets in.

Broad incumbents

• Berenberg: European investment bank with leading UK equity research franchise and mid-market M&A advisory — comparable in research-led distribution and European mid-cap M&A, though broader in geography (Germany-headquartered) and asset classes.
• Canaccord Genuity: Global mid-market investment bank with significant UK operations offering ECM, M&A advisory and equity research to growth companies — directly comparable product set, but with broader North American footprint and asset class coverage.
• Houlihan Lokey: Global mid-market M&A advisor with strong UK presence and growing equity capital markets franchise — directly comparable in mid-cap M&A advisory, with broader geographic reach and asset class coverage.
• Jefferies: Global full-service investment bank with strong UK mid-market M&A and equities presence — broader in scale, balance-sheet capability and product offering, but competes directly with Panmure Liberum for mid-cap UK M&A and ECM mandates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/panmure-gordon
• Xx.com/PanmureGordon

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panmure Gordon