1 August 2018 – acquisition
The company has announced that it has agreed to acquire the Nomad and corporate advisory business of Smith & Williamson for up to £2m, which is the maximum payable under the arrangement. Cenkos will pay 20% of all corporate client fees earned by the business in the first year from those clients that transfer to Cenkos. This is a clever and low cost way of increasing the company’s client bank and expanding its corporate finance team. The shares remain a BUY.