European investment banking firm Altium Capital is looking to wind up its securities division following a strategic review. The group is entering into a consultation period which could see the closure of its securities unit. The move has been prompted by unfavorable small- and mid-cap broking markets.
The London Stock Exchange-listed bank is looking to concentrate on building its core and profitable international advisory business in the U.K. and Europe. The advisory firm has handled 70 deals with a total value of more than £5 billion since January 2010.
Click here for the release from Altium Capital.