Oliver Hemsley is barely out of the door, but even without its long-time boss and founder in the driving seat, Numis appears to have barely skipped a beat. The stockbroker’s revenues for the year to the end of September have hit a record, while its cash balance is close to £90 million, about £60 million more than it needs to be.
Only a few years ago, questions were being asked about the viability of small and mid-cap brokers and while many of Numis’s more illustrious rivals have fallen by the wayside (think Panmure Gordon), this is one that looks set to stay the course.
First things first: Brexit. While the vote to leave the European Union clearly is not something that might be expected to