Investment Banking

Peel Hunt posts £1.5m loss amid cost-cutting, UK dealmaking slump

Staff costs declined by 21% to £48.2m but employee numbers increased over the year to 310 people

Concerns over London's competitiveness have pushed firms like Arm, Flutter and CRH to list in New York
Concerns over London's competitiveness have pushed firms like Arm, Flutter and CRH to list in New York Photo: SOPA Images/LightRocket via Getty Images

City broker Peel Hunt posted a loss of £1.5m as investment banking fees slumped by nearly 60% amid a difficult period for UK capital markets.

The UK-focused investment bank, which listed in September 2021, made £23.4m in investment banking revenue for the 2023 fiscal year, which was down by 59.6% as initial public offerings and UK dealmaking activity remained in the doldrums.

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