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Gleacher Shacklock makes first profit

The European advisory boutique run by former Dresdner Kleinwort Wasserstein banker Tim Shacklock has recorded its first profit.

Gleacher Shacklock, which Shacklock founded in 2003, converted a £3.9m (€5.7m) loss into a profit of £360,000 in the 12 months to December 2004.

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