May 6, 2016 / 11:01 AM / 2 years ago

MOVES-Hemsley to step down at Numis

LONDON, May 6 (IFR) - Oliver Hemsley, founder of UK mid-cap equities broker Numis, has announced he will step down as chief executive this autumn after more than two decades at the company.

Alex Ham and Ross Mitchinson will be appointed joint CEOs in his stead, Numis said on Friday. They will be appointed executive directors of the company from July 1. Hemsley will remain an executive director on the board.

Ham and Mitchinson have both worked at Numis for at least seven years. Ham joined in August 2005 and has been head of corporate broking and advisory since last May. Mitchinson joined in October 2008 from UBS and has been head of equities since last May.

Numis is currently ninth in the Thomson Reuters league table for EMEA ECM deals, having worked on 12 transactions collectively raising US$1.835bn. These figures were bolstered by last month’s £687m sale of 31% of Saga on behalf of private equity backer Acromas.

Even before that transaction, Numis had enjoyed record revenues in the six months to the end of March, up 24% to £56.8m. Adjusted pre-tax profits rose 35% to £19.3m. (Reporting by Christopher Spink)

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