Lazard's appointment follows last month's announcement that rival stockbroker Evolution was considering a bid for Panmure Gordon, one of the City's oldest stockbrokers. A spokesman for Lazard declined to comment.
Evolution was forced by the Takeover Panel to admit that it was considering a bid for Panmure Gordon after reports of a possible offer sent shares in the stockbroker higher.
In a stock exchange announcement Evolution said "it was looking at a range of options to boost its fund management and securities businesses and that an offer for Panmure was one of them".
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