It’s not all about cutbacks at Oriel Securities, the independent UK corporate and institutional stockbroker.

Earlier this week it emerged that Oriel was trimming its staff by letting go of around 15 people but yesterday the firm showed that it is in hiring mode also.

Oriel has taken on Richard Griffith, the former Evolution oil and gas analyst to replace its ex-oil and gas star Richard Rose, who was recently poached by the highly ambitious Canadian-owned RBC Capital Markets.

Griffith, who was nick-named by some at Evolution as ‘Bob Crow’ due to his passing resemblance to the trade union leader, joins Oriel in April. Mike Trippitt, head of research at Oriel Securities, said: “Oriel has developed a first class research team. The opportunity to add this extremely experienced and talented oil & gas analyst is very exciting for us.”

Griffith was one of the 50 or so employees to lose their jobs at Evolution following the takeover by Investec. Another of Evolution’s former charges, corporate financier Charlie Batten, looks to be on the way to pastures new as well. He’s said to be joining Peel Hunt.