Aim adviser Brewin Dolphin says that its investment banking revenues slumped by 58% to £2.07m in the three months to December 2008.
Brewin gave no indication that trading had improved since the end of December 2008.
The investment management operations helped to offset this decline and overall revenues were 2% lower at £51m. There were £16.9m of funds under management at the end of the period – a decline of 10% over three months.
Brewin has a £20 million capital adequacy surplus.
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