A management buy-out at London’s oldest stockbroker Hichens Harrison & Co has seen 30 per cent of the equity sold to management, according t...

A management buy-out at London’s oldest stockbroker Hichens Harrison & Co has seen 30 per cent of the equity sold to management, according to sources close to the company. The deal, completed within the last two weeks leaves the remaining 70 per cent still in the hands of South African Sanlam which took over the company from the old partnership in 2002 and were rumoured to be looking for a buyer for the mainly private client broker. The deal is thought to value Hichens at £2.3 million. A spokesman for Hichens told WealthBriefing that the company had no comment to make at this stage. Sanlam currently have $3 billion under management.