Finance

Numis hires Moelis, VC firm vets in deal push

City broker Numis hired a medical doctor to bolster its team of dealmakers targeting high-growth companies as part of a broader expansion of its investment bank.

The firm has hired Dr Ashish Patel as a managing director within its growth capital solutions team, a unit set up to target private companies looking for capital away from public markets. He joins from venture capital firm Optum Ventures and has experience working in the healthcare sector, which has seen a surge in M&A transactions this year.

The team was set up by Numis’s co-chief executive, Alex Ham, in 2020 in a bid to capitalise on private markets transactions at a time when traditional initial public offerings were waning. This year has seen a revival of listings in the UK and globally, which has helped equity capital markets fees surge to over $27bn, according to data provider Dealogic.

READ ‘Even the apprentice gets equity’: City broker Cenkos eyes growth under new CEO Morse

Numis also hired Andrew Coates, who was formerly in the UK investment banking team at boutique Moelis & Co, as a director within its industrials coverage team, and Giles Rolls from rival broker finnCap.

The firm has been expanding its investment bank in a bid to shift its business away from a reliance in its traditional broking functions. It is also opening its first office outside of the UK, with plans to open a Dublin office next year.

“As we look to grow our M&A and Growth Capital Solutions for private companies, as well as expand geographically, it is essential we have the right talent to set us apart. These key hires form a central part of our ambitious growth plans,” Ham and his co-CEO Ross Mitchinson said in a statement to Financial News.

READ UK deals boom bolsters investment bank revenue at City broker Numis

Numis is set to post £150m in investment banking revenues for the full year ending 30 September, it said in a trading update, an increase of 47% on 2020.

To contact the author of this story with feedback or news, email Paul Clarke

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