Evolution Group

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Evolution Group plc
IndustryFinancial services
Founded1999
Headquarters London, UK
Key people
Martin Gray, Chairman
Alex Snow, CEO
Revenue £129.4 million (2009) [1]
£11.1 million (2009) [1]
£9.2 million (2009) [1]
Parent Investec

Evolution Group plc is a leading British-based financial services business. It is headquartered in London and is a former constituent of the FTSE 250 Index. It was acquired by Investec in 2011.

Contents

History

The Company, formed in 1999 as Evestment plc, was initially listed on the Alternative Investment Market. [2] In 2000 it merged with Christows, a west country stockbroker. [3] In 2001 it bought a research house known as Evolution Capital and changed its own name to Evolution Group. [3]

It went on to merge with Beeson Gregory in 2002 [4] and to acquire Williams de Broë in 2006. [5]

On 12 November 2004, Evolution Beeson Gregory was fined £500,000 by the Financial Services Authority for executing trades that distorted the market. [6] Evolution sold short 252% of the share capital of Room Service Group plc without any plan to settle the trades. Evolution's head of market making Christopher Potts was also fined £75,000. [7]

It was acquired by Investec in 2011. [8]

The Ontario Lottery and Gaming Corporation added live dealer entertainment. At the end of October 2021, the Corporation announced its cooperation with the Evolution company.[ citation needed ]

Operations

The Group is organised into two activities:

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References

  1. 1 2 3 "Preliminary Results 2009". Archived from the original on 16 July 2011. Retrieved 25 March 2010.
  2. "Evolution Group: History". Archived from the original on 19 March 2009. Retrieved 21 March 2009.
  3. 1 2 Abbot in talks to buy back EVC Christows [ dead link ] Independent, 11 February 2001
  4. Evolution agrees to buy Beeson Gregory Independent, 31 May 2002
  5. Evolution in exclusive talks to buy Williams de Broë for £30m Independent, 3 May 2006
  6. Evolution fined for a new style of market abuse Citywire, 12 November 2004
  7. Stockbroker fined £500,000 in FSA's first 'market distortion' case The Guardian, Jill Treanor, 13 November 2004
  8. Investec wins fight for Evolution with £230m deal The Telegraph, 9 September 2011