Execution, the stockbroker, has bought Noble Group in a move that it said would create a "new force" in international investment banking.
Noble, a mid and small-cap specialist investment bank, will add a corporate finance arm to Execution’s existing research, sales and trading operations to form a stand-alone investment bank.

Nick Finegold, founder of Execution, will become executive chairman of the enlarged group, to be named Execution Noble.
Simon Brookhouse, current chief executive, will stay in control of the larger company, while Angus Macpherson, Noble’s current chief executive, will become deputy chief executive.