Panmure Gordon investment bank head chairman Linacre is standing down.
The news follows the appointment of Philip Wale as chief executive officer earlier this year.
Commenting on the departure Panmure chairman Ed Warner told the market: 'All of my board colleagues thank Tim for his unstinting efforts on behalf of Panmure Gordon during his two decades with the firm and we wish him well for the future.’
Linacre added: ‘It is a pleasure to depart knowing the business is in excellent shape. Panmure's transactions this year, including several IPOs, significant fundraisings and M&A mandates, are proof of the whole firm's ability to execute tremendously for its clients.’