Collins Stewart, which is the UK’s largest stockbroker, has been approached for a possible takeover, it said, while not disclosing the identity of the suitor.

The firm said talks were at an “early stage” with no certainty that the talks will lead to an offer.

Collins Stewart has a wealth management unit and bought private equity and debt business Hawkpoint in 2006.

A number of brokerage firms are building operations in London, including Jeffries Group, the US firm.

Collins Stewart’s recently re-branded wealth management division has about £4 billion of assets run on behalf of high net worth clients and employs more than 200 staff. Earlier this year, Collins Stewart Wealth Management opened an office in Geneva.