Sources play down Advent's growing Towergate holding
A reduction in Peter Cullum’s shareholding in Towergate to just 20% has been played down by a source close to the broker, who linked the move to the broker’s falling earnings.
Towergate revealed in its latest figures that non-executive chairman Cullum now holds a fifth of shares in the business, down from 32.6% at the time of Towergate's 2013 annual report.
He was Towergate
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