Panmure Gordon has hired a team from Matrix, marking the brokerage's return to the funds market.
The team was until recently at Matrix Corporate Capital, but has joined Panmure and once integrated will be led by Paul Fincham and Phil Hopkins, who headed the 13-strong investment funds team at Matrix.
The brokerage said that its new team spans across the market comprising sales, research, market making and corporate finance. It should be fully operational from Monday.
Phillip Wale, chief executive officer of Panmure Gordon, this morning welcomed Fincham, Hopkins and their colleagues on board.
'Panmure Gordon has a strong heritage in investment funds, and having recruited such a highly regarded dedicated team gives us an excellent opportunity to establish a leading position in the market,' he added.
According to reports, Wale is likely to seek out more opportunities for acquisitions, however his latest move sees the business return to the funds market.
Investment company research was part of Panmure's business until 2007 and its return will see the business diversify its revenue streams.
This could help Panmure continue its turnaround, having recovered from a £2.9 million loss for the six months ended 30 June 2011 to report a far more positive £2 million profit for the same stretch this year.