FinnCap hires finance director

SMALL CAP broker finnCap has appointed former fund manager Tom Hayward as its new finance director, as the next step in its development as an independent firm.

FinnCap, led by chief executive Sam Smith and chaired by private equity veteran Jon Moulton, hired Hayward from Herald Investment Management, a fund management group specialising in the technology, media and telecoms sectors. He worked there for almost a decade, latterly as one of two managers responsible for Herald’s £50m venture capital funds.

The appointment leaves Smith free to focus on the ongoing development of the business, which earlier this year completed a £2.5m management buy-out of the remaining 50 per cent stake held by its former parent JM Finn.

It is set to move out of JM Finn’s Coleman Street offices at the end of the month, into new premises of its own on New Broad Street.

“It is the right time to enlarge our management team as we continue to gain market share in the smaller company space,” said Smith. “We feel that Tom has the right experience and understanding of our market to help us do this.”