Zeus buys capital markets division of regional broker

Zeus Capital has bought the capital markets division of stockbroker WH Ireland for £5m.

The sale of the division with 125 retained corporate clients raises cash for WH Ireland and the 90 employees offices in London, Manchester, Leeds, Bristol and Edinburgh will form the second largest Nominated Adviser and Broker for AIM companies.

The key assets being acquired include the corporate client contracts of the Capital Markets Division, the employees, the key supplier contracts, the Leeds and Bristol leasehold premises, and the transfer of High Net Worth clients together with their Execution Only Custody Accounts valued at approximately £600m. 

The deal is expected to complete by mid-July 2024. 

Phillip Wale, Chief Executive of WH Ireland said: “We believe the combined business of Zeus Capital Limited and the WHI Capital Markets Division will represent a significantly enhanced platform for clients and employees, enabling them to manage the current market challenges and take advantage of a recovery in corporate activity from a position of strength as a leading independent investment bank in the UK.”