Evolution Group Explained
| Evolution Group plc |
| Foundation: | 1999 |
| Location: | London, UK |
| Key People: | Martin Gray, Chairman
Alex Snow, CEO |
| Industry: | Financial services |
| Revenue: | £129.4 million (2009)[1] |
| Operating Income: | £11.1 million (2009) |
| Net Income: | £9.2 million (2009) |
| Parent: | Investec |
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, formed in 1999 as Evestment plc, was initially listed on the Alternative Investment Market.[2] In 2000 it merged with Christows, a west country stockbroker.[3] In 2001 it bought a research house known as Evolution Capital and changed its own name to Evolution Group.[3]
It went on to merge with Beeson Gregory in 2002[4] and to acquire Williams de Broë in 2006.[5]
On 12 November 2004, Evolution Beeson Gregory was fined £500,000 by the Financial Services Authority for executing trades that distorted the market.[6] Evolution sold short 252% of the share capital of Room Service Group plc without any plan to settle the trades. Evolution's head of market making Christopher Potts was also fined £75,000.[7]
It was acquired by Investec in 2011.[8]
The Ontario Lottery and Gaming Corporation added live dealer entertainment. At the end of October 2021, the Corporation announced its cooperation with the Evolution company.
Operations
The Group is organised into two activities:
- Evolution Securities: investment banking for mid-market companies
- Williams de Broë: stockbroking and fund management
External links
Notes and References
- Web site: Preliminary Results 2009 . 2010-03-25 . https://web.archive.org/web/20110716210659/http://online.hemscottir.com/ir/evg/irlse.jsp?page=news-item&item=376387311504541 . 2011-07-16 . dead .
- Web site: Evolution Group: History . 2009-03-21 . https://web.archive.org/web/20090319081819/http://www.evgplc.com/GroupHistory.aspx . 2009-03-19 . dead .
- https://www.independent.co.uk/news/business/news/abbot-in-talks-to-buy-back-evc-christows-691251.html Abbot in talks to buy back EVC Christows
- https://web.archive.org/web/20110519091117/http://www.independent.co.uk/news/business/news/evolution-agrees-to-buy-beeson-gregory-652781.html Evolution agrees to buy Beeson Gregory
- https://web.archive.org/web/20090122115251/http://www.independent.co.uk/news/business/news/evolution-in-exclusive-talks-to-buy-williams-de-broeuml-for-16330m-476597.html Evolution in exclusive talks to buy Williams de Broë for £30m
- http://citywire.co.uk/money/evolution-fined-for-a-new-style-of-market-abuse/a261735 Evolution fined for a new style of market abuse
- https://www.theguardian.com/business/2004/nov/13/2 Stockbroker fined £500,000 in FSA's first 'market distortion' case
- https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8751575/Investec-wins-fight-for-Evolution-with-230m-deal.html Investec wins fight for Evolution with £230m deal
