XCAP

4335 days ago

Buying shares in small stockbrokers as M&A play – you must be mad

In today’s Daily Mail, Geoff Foster suggests here that pretty piss poor results from Walker Crips (WCW) suggest that trading across the sector is dire. Yes he is spot on. There are few IPOs, private investors are not trading actively and so revenues must be down. And as we all know, stockbrokers demand big pay packets and will not change that just because their employer is struggling. However why should this drive mergers as Geoff suggests.