A full-service investment bank, Cavendish, has been created in Scotland with the completion of the merger of Cenkos Securities and finnCap Group.

Operating from Cenkos’ existing offices in Edinburgh, Cavendish will now add M&A, private capital and debt advisory to its existing equity capital markets services for both Scottish businesses.

With nearly 20 years of operations in Edinburgh, Cavendish can build on the Cenkos’ work as an institutional broker in Scotland to offer a wider range of services to ambitious Scottish companies.

Neil McDonald, Cavendish’s head of Scotland, said: “The creation of this new full-service investment bank means we can serve growing Scottish companies which may not yet be ready to raise money on the public markets, but have a need to access either private or debt capital to fuel their ambitions.

“The addition of an established M&A capacity and an international network brings in the potential for Scottish businesses to acquire to grow, or for owners to either list on public markets or sell when the time is right.”

The combined operation will serve around 220 clients listed either on the London Stock Exchange or AIM, the most of any UK small and midcap investment banks.