Zeus set to acquire Novum Securities

MANCHESTER-based broker Zeus Capital has swooped for rival Novum Securities.

According to reports, Zeus and Novum have agreed a deal which will now go to City regulators for approval.

Sky News said that a transaction is due to be announced later this year, although the value of the has not been disclosed.

If it goes ahead, the acquisition will bring together Zeus – which is overseeing a potential flotation of the former restaurant company owned by Sir Terence Conran – and Mayfair-based Novem.

Novum is run by Hugh McAlister, a co-founder of Kaupthing Singer and Friedlander Capital Markets.

Neither Novum nor Zeus was available for comment.