Seymour Pierce MD resigns and admits errors

THE managing director at Seymour Pierce resigned yesterday after making errors in a deal involving a client.

Richard Feigen, who has been with the corporate broker for 11 years, said he decided to leave after mistakes occurred in a transaction he was overseeing.

“Some errors occurred during a transaction which I was leading. I feel that as the firm’s managing director it is my duty to accept full responsibility for them, and I have therefore decided it is in the best interests of Seymour Pierce that I step down,” Feigen said.

Seymour Pierce, which focuses on smaller companies, has more Aim-quoted clients than any other stockbroker.