Things have been tough for the venerable broker. But all the talk at this week's AGM will be the return of a certain ex-Barclays supremo Patric Johnson, the boss of City broker Panmure Gordon, reckons life for small City brokers like his is tougher than it's been since before Big Bang. He says higher costs and stingier clients mean they face "one of the most competitive landscapes" since 1982.