Fri, 24 May 2013
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BLG and Clydes eye UK top 10 slot with potential merger
If you just step back from this, you could take the view that Clydes would be merging with a failing firm which acquired the volume business of a failed firm (ie Halliwells). Whilst there may be client pressure on Clydes to meet clients' needs at the lower end of the market, this move will reduce their PEP and leave them subject to the Manchester v City/International internal tensions which have acted as a catalyst in the departure of over a dozen London Partners from BLG since the acquisition of Halliwells. It makes little sense for Clydes.
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