Daniel Stewart coy on Youngman link

STOCKBROKER Daniel Stewart has played down reports that it has hired former WH Ireland executive David Youngman as head of corporate finance.

Justin Bates, director of Daniel Stewart’s Manchester office said: “Ever since we set up in Manchester three years ago we’ve wanted to develop a corporate finance function.

“We still intend to do this and we have spoken to a number of people, beyond that I cannot comment further.”

Several members of the Manchester stockbroking community contacted TheBusinessDesk as rumours swept around the city’s financial community that Mr Youngman had joined Daniel Stewart.

Mr Youngman, pictured, a respected figure in the business community, has not worked since his acrimonious departure from WH Ireland in May, along with Lawrie Beevers, Ireland’s former chief executive.

The pair left after an dramatic split with the rest of the board over the AIM-listed company’s strategic direction. They were suspended in April after threatening to vote against the re-election of chairman Rupert Lowe, chief executive Richard Ford and other directors at the firm’s AGM.

They had spent 14 years with Ireland and led its flotation on to AIM.

In October it was announced that Mr Beevers had joined a management team to buy WH Ireland’s branch in Colwyn Bay, North Wales.

One observer told TheBusinessDesk: “David is well regarded in the market place as something of a big hitter. He would be a good appointment for Daniel Stewart if he does join them.”