Liontrust's Lang and Pattisson resign

Analyst Cazenove says the move is "a remarkable development by any standards". A Cazenove broker note says: "Quite why these key managers should have announced their resignation while the company is still in talks with potential acquirers is not clear but can hardly be conducive to a successful outcome, in our view. "Whether a new manager could be found with sufficient standing and credibility to appeal to consultants, but insufficient self belief in their own ability to be willing to run money according to someone else's strategy is unclear. "We are not changing estimates at this sta...