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Insiders expect Towergate exodus to help firm integrate Fusion business

towergate-offices

Broker believed to be hit with FCA S166 order following client money failings

Towergate has been tipped to benefit from the departures from its underwriting unit by market insiders, who believe ongoing exits will enable the broker to better integrate its Fusion business.

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McGill and Partners and private equity firm EQT have entered into a definitive agreement in which the latter will acquire a majority stake in the former for $2bn (£1.5m).

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