INSTITUTIONAL stockbroker Numis Securities is opening an office in the North of England, as it aims to play a bigger role in corporate activity in Yorkshire.
Oliver Hemsley, the chief executive of Numis, said he didn’t believe the North could be served from an office in London. Numis has hired Graeme Summers as managing director of corporate broking. He will lead the company’s new Northern office in Manchester, which will have five staff.
Mr Hemsley added: “There’s a lot of growth in the North and we want to be part of it and service it. It was an obvious move for us to have a base in Manchester. It seems the most logical place to start.”
Although there were no plans for a Leeds office, Mr Hemsley said that Numis “didn’t rule anything out”.
He added: “We want to consolidate our position in the North. We don’t think we can do that remotely.”
Mr Summers spent two decades at rival broker Brewin Dolphin. This year, Numis has been involved in the flotations of Doncaster-based Polypipe, which is one of Europe’s biggest manufacturers of plastic pipe systems, and Leeds-based Clipper Logistics. Numis’s competitors in the North of England include Zeus Capital, which also has an office in Manchester. In September, Zeus hired Sir Nigel Knowles, the managing partner of law firm DLA Piper, as its chairman.