Stockbroker to raise £5m as it rejigs management team

Luke Johnson, chairman of Arden Partners
Luke Johnson, chairman of Arden Partners

Birmingham stockbroker Arden Partners plans to raise £5m to strengthen the business.

The business wants the funds to “strengthen the company’s capital reserves and allow it to continue to attract further senior hires and incremental teams into the business”.

Arden simultaneously announced a management restructure, bringing in Donald Campbell Brown as chief executive, replacing James Reed-Daunter.

Reed-Daunter will continue to serve as an executive director on the Arden board and as a senior member of Arden’s equity capital market’s team.

Executive deputy chairman Jonathan Keeling and chief operating officer Stephen Wassell will both step down from the Arden Board, but will remain with the company in senior managerial positions.

Luke Johnson, non-executive chairman of Arden, said: “Arden is fortunate to have attracted a man of Donald’s character and experience – he has remarkable market knowledge and a formidable network of institutional contacts.

“My sincere thanks go to James Reed-Daunter for his selflessness in identifying and driving this significant opportunity for the firm and I am also extremely grateful to Jonathan Keeling and Steve Wassell for their respective efforts and contributions whilst serving on the Arden Board.

“I believe that a leaner, more nimble board will enable the firm to react more swiftly to rapidly changing market conditions and to take advantage of future opportunities.”

Brown joins Arden with more than 25 years’ experience of working in the small and mid cap broking sector, most recently as a managing director at the Royal Bank of Canada for the last seven years. His appointment is subject to regulatory approval.

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