Mergers and Acquisitions

Abstract

When Stockbroking Today was first published I forecast a reduction of stockbroking firms in London from the figure of 255 (at 28 March 1967) to half or less within five years. In the event I was much too pessimistic and it was not until after ten years that the figure for London alone dropped to 112. At the present time a general view is being expressed within The Stock Exchange that there are perhaps 25 per cent too many firms, but I believe that this view may well be too dramatic. Nevertheless the move to the new structure within the securities industry will accelerate the trend, so that Member Firms should be looking at the various alternatives open to them.