ORIEL Securities, the independent stockbroker which agreed a financing deal with CIBC, Canada’s fifth largest bank, last September, yesterday announced five senior appointments to help take its business forward.
The firm, which had been linked several times last year with a merger with Panmure Gordon, says the strengthening of its team also follows a bumper year for client fund-raising activity. Oriel raised £1.78bn in new issues and secondary fund-raisings.
It has hired retail expert Paul Morris from UBS. He joins the corporate advisory team.
It has also recruited James Grace, who spent 18 years in corporate finance with Investec and its predecessor firms. Grace left Investec last year.
Grace is joined from Investec by Alan Carter and John Cahill, both UK real estate analysts. And Bill Barnard, the speciality finance analyst, joins from Societe Generale.
Eithne O’Leary, Oriel’s deputy chief executive, said: “Over the course of last year we expanded our sector capabilities and sought to hire senior practitioners who are well placed to advise clients as we see a surge in activity in the market.”
The City’s smaller broking houses are hoping for an upturn in trading volumes after a dire period which has seen several well-known names disappear.