Evolution Group
Evolution Group plc is a leading British-based financial services business. It is headquartered in London and is a former constituent of the FTSE 250 Index. It was acquired by Investec in 2011.
History
The Company was formed in 1999 as Evestment plc and was originally listed on the Alternative Investment Market.[1] In 2000 it merged with Christows, a west country stockbroker.[2] In 2001 it bought a research house known as Evolution Capital and changed its own name to Evolution Group.[2]
It went on to merge with Beeson Gregory in 2002[3] and to acquire Williams de Broë in 2006.[4]
On 12 November 2004, Evolution Beeson Gregory was fined £500,000 by the Financial Services Authority for market distortion amounting to market abuse.[5] Evolution short sold 252% of the share capital of Room Service Group plc without any plan to settle these trades. Evolution's head of market making Christopher Potts was also fined £75,000.[6]
It was acquired by Investec in 2011.[7]
Operations
The Group is organised into two activities:
- Evolution Securities: investment banking for mid-market companies
- Williams de Broë: stockbroking and fund management
References
- ↑ Evolution Group History
- ↑ 2.0 2.1 Abbot in talks to buy back EVC Christows Independent, 11 February 2001
- ↑ Evolution agrees to buy Beeson Gregory Independent, 31 May 2002
- ↑ Evolution in exclusive talks to buy Williams de Broë for £30m Independent, 3 May 2006
- ↑ Evolution fined for a new style of market abuse Citywire, 12 November 2004
- ↑ Stockbroker fined £500,000 in FSA's first 'market distortion' case The Guardian, Jill Treanor, 13 November 2004
- ↑ Investec wins fight for Evolution with £230m deal The Telegraph, 9 September 2011
