UK corporate and institutional stockbroker Panmure Gordon today raised its 2005 earnings forecast for the second time on the back of strong market conditions at the end of the year and faster-than-expected integration of Durlacher, the boutique it bought in April.

The upbeat trading statement came as the broker announced it had appointed Charles Stonehill, an independent director of the London Metal Exchange and the former global head of capital markets at Lazard, as deputy chairman. Stonehill left Lazard in 2004 after 25 years.