Mike Barrett: What next for Parmenion?

It's really life affirming to see relative youngsters leaving the clutches of a larger Firm, in pursuit of their own autonomy and freedom. But enough of Harry and Meghan, the more exciting news of the week has seen Parmenion sold by Standard Life Aberdeen (SLA) to private equity house Preservation Capital Partners, for the princely sum of £102m. On the face of it this seems like a good deal for everyone concerned. On the SLA side, their strategic intent to "tighten their focus" has been achieved, albeit at a price somewhat below the kite flying valuation (£150-200m) that was suggested wh...