Broker Numis "committed to north"
STOCKBROKER Numis says it is committed to the North West, despite the departure of the executive leading its efforts to develop business in the region.
The firm, which recently reported its highest revenues in its 15-year history, opened an office in Manchester 12 months ago. It hired Graeme Summers, a managing director, corporate broking and advisory as head of Numis North.
Mr Summers, who previously spent some 20 years with rival broker Brewin Dolphin, and was also head of corporate broking at N+1 Singer, is understood to have recently left the business, and has not yet been replaced.
Despite the Manchester office being currently un-manned, Numis insisted its base at Chancery Place, Brown Street, is not closed, and says it remains “committed to the North”, having been involved with a number of significant stock market listings in the last 12 months, including retailer B&M, AutoTrader and most recently online holidays firm On The Beach.
Numis said it was its policy not to comment on individuals, but hinted that it is looking to strengthen its team in the region.
While London brokers still tend to grab the biggest deals, there is formidable competition in Manchester from Zeus Capital, a dominant force particularly on AIM in the last 18 months, where it has raised more than £1bn for a number of North West companies including as Boohoo, Convivality Retail and 4D Pharma.
