The former head of investment banking at Dresdner Kleinwort Wasserstein has teamed up with her former boss Tim Shacklock at Gleacher Shacklock, the UK corporate finance business.

Manjit Boual has become a partner at Gleacher. At the same time, it has emerged that Gleacher suffered a £3.9m (€5.7m) pre-tax loss last year as its turnover halved.