EBG moves to raise profile

Evolution Beeson Gregory (EBG), the investment banking arm of financial services group Evolution, has started a PR drive to raise the profile of its research and financing business.

Grandfield executive chairman Charles Cook leads the account, which focuses on highlighting EBG deals, getting EBG analysts into the business pages and building analysts’ profiles.

‘If an analyst is regarded as the most competent one in retail, people are going to want to use their research,’ said EBG head of corporate finance Chris Callaway.

EBG was formed in 2002 by the merger of the technology and small cap-focused Beeson Gregory with the Evolution Group.

In November 2003, EBG came under the scrutiny of city regulator the Financial Services Authority (FSA) following the backlog in the bank’s settlement of trades in the company Room Service.

The backlog arose as the result of the commonplace and legal practice of short-selling, whereby banks sell shares they do not have with a view to buying them back later at a lower price.

The FSA has called for greater disclosure of short selling but said at the time that it did not see a need for more regulation.

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