Three different City brokers showed the strain they are under today, prompting fresh talk of mergers within the Square Mile that could put hundreds of jobs at risk.
Numis, an upstart investment bank regarded as one of the City’s recent success stories, said investment banking revenues would be lower due to a lack of deals. It warned that there is unlikely to be “a meaningful change in market conditions in the short-term” and that flotations will remain scarce.
