As the long awaited consolidation in the midcap broking space continues – Investec buying Evolution, Canaccord buying Collins Stewart, Westhouse buying Arbuthnot Securities, FC buying Ambrian, and with others pulling out of the securities market altogether such as Religare Capital Markets and Altium Capital – where will all the professional staff find new positions?

It is well recognised that consolidation was needed, the level of fund raising activity is way down on the AIM hey day, and so there just is not any need for all these firms to be offering what is effectively the same service!

We are seeing a lot of “upgrading” of teams – companies are taking on some of the very highly regarded people being made redundant, through no fault of their own, and so strengthening their current businesses. Other opportunities are starting to arise with new firms setting up in London from overseas; but I think a lot of those redundant corporate brokers will end up leaving the City altogether.