As the sense of gloom gathers around the implications of Brexit, new financial services firms are launching in London anyway. Below is our pick of the firms to get approval by the Financial Conduct Authority in July and August, tracked by corporate finance boutique IMAS. As ever, there’s no guarantee that these firms are hiring, but they present a potential opportunity for those looking for roles outside large institutions.
Cape Ann Asset Management:
There’s no shortage of former Nomura executives launching their own firms these days. Cape Ann Asset Management is run by Jonathan Bell, the former head of emerging markets, who left Nomura late last year. So far, other Nomura employees have also signed up including Rainer Tilk and Jacqui Mantle, both of whom focused on emerging markets at Nomura’s asset management arm. It has eight FCA registered employees.
Clearshore Capital Management:
A boutique advisory firm set up by Thomas Onions, who was latterly head of UK corporate advisory at Santander, Clearshore Capital Management says it offers ‘strategic advice’ to ‘high growth businesses’. So far, Prue Freeman, a former director at UBS, is the only other listed employee.
Damus Capital offers fund-raising advice to private companies and has been set up a trip of senior investment professionals. Hugo Tudor is a former Blackrock fund manager who has been out of the market since 2013, while Tom Howell, who was latterly in equity sales at Cenkos Securities and James Turner, a former partner at Oriel Securities who has been running his own firm for the past three years.
Talarium Capital was launched late last year by Marko Soldo, a former portfolio manager at Millennium Capital Management in London, but was officially brought under the wing of hedge fund Brummer & Partners in May 2016. Its international fund – focused on long/short equities – launched in June. Soldo is its chief investment officer and founder, but Talarium also has eight other employees. These include Liam Rowley, a former Barclays banker who was latterly working for Bluecrest Capital Management, Laurence Benn, who came from Dialectic Capital Management but also worked at Goldman Sachs and Robert Evans, who came from J.P. Morgan.
Sulla Investments is a ‘family office’ set up by former J.P. Morgan and RBC Capital Markets managing directors that has just received FCA authorisation to manage external capital. John Greenslade, the former head of fixed income and currencies sales at RBC Capital Markets and Will Shropshire, the former global head of agricultural commodities at J.P. Morgan. So far, these are the only listed employees.