UK stockbroker hires a dozen to defy downturn
Oriel Securities, the UK stockbroker founded in the aftermath of the dot.com boom, has continued to build its business in the current market downturn with a dozen new hires, including a new chief financial officer from rival Fox-Pitt Kelton.
Lexa Hunt joins the company as finance chief after 15 years at Fox-Pitt Kelton, where she led the management buyout from Swiss Re Bank, alongside the private equity group JC Flowers.
Oriel has also made 11 hires in its research division including four analysts focused on financial stocks. Keith Baird has joined from Bear Stearns to cover speciality financials research. Marcus Barnard, who joined from Pali International, and Thomas Dorner from Lehman Brothers will focus on insurance, while Tom Tuite Dalton will launch investment funds research at Oriel.
There were also seven analyst hires in the support services, technology media and telecoms, real estate and leisure sectors from a mixture of UK stockbrokers and banks.
Hector Forsythe has joined from Evolution Securities and will have Andrew Gibb, who rejoins Oriel from Numis, working with him.
Morten Singleton will focus on technology media and telecoms after a year in industry with consumer electronics company Vanco, and will have media analyst Tamsin Garrity working alongside him. She has joined from Lehman Brothers where she was a member of its media team.
Additions to the real estate research team include Charlie Foster, who has joined from stockbroker Altium Capital, and Mark Griffin, who previously worked at private equity company Tyburn Lane, which focused on the property sector.
Finally, Rachel Carson, who has joined from Royal Bank of Scotland, will cover the leisure industry.
All of the new hires will become equity owners in the company.
Simon Bragg, chief executive and founder, said: “We all know that the markets and economy are particularly challenging, but we founded Oriel in difficult conditions and have built our business with firm foundations.”
Oriel was founded as an independent corporate and institutional stockbroking business in 2002, during the last equity market slump that followed the telecom, media and technology boom. The company focuses on corporate finance, corporate broking, research and sales and trading.
Part of Oriel’s appeal for some prospective employees is its partnership model, which means that the majority of its equity is owned by its employees. Earlier this year, Bragg told Financial News: “Most people at Oriel have worked in big banks but smaller organisations are not for everyone. You are much more visible and must be able and want to make a difference. Some people will want to find a port in the storm but we want them to be around for the long term and help build our business.”
--write to dcowie@efinancialnews.com
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