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WH Ireland in talks to buy Cantor Fitzgerald's London corporate finance arm

The stockbroker and wealth management group's chief executive Phillip Wale joined from Cantor Fitzgerald less than two years ago

WH Ireland Group PLC -
Cantor's offices are in Canary Wharf

WH Ireland Group PLC (LON:WHI) said it is in acquisition talks with the European arm of Cantor Fitzgerald, the Wall Street investment bank.

The stockbroker said it was discussing the possible acquisition or transfer of part assets of part of Cantor Fitzgerald Europe’s mid-cap and AIM corporate finance arms. 

“However, at this stage, such discussions are preliminary, require certain third party consents and there can be no guarantee that any transaction will occur,” WH Ireland said in a statement on Monday.

WH Ireland chief executive Phillip Wale joined from Cantor Fitzgerald in 2018, where he had been head of fixed income, following stints at Panmure Gordon, Goldman Sachs and Commerzbank.

It was reported last week by Bloomberg that Cantor was planning to make hundreds of job cuts because of the pandemic, in contrast to many rivals that pledged not to cut any jobs. 

Earlier this month, WH Ireland said the market fluctuations from coronavirus had hit its income in its wealth management arm, meaning it now does not expect to achieve monthly profitability by the start of the new financial year. 

Quick facts: WH Ireland Group PLC

Price: 41.5 GBX

AIM:WHI
Market: AIM
Market Cap: £20.21 m
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