Rob Terry, the former boss of the embattled insurance outsourcing firm Quindell, has emerged as a major investor in the City stockbroker Daniel Stewart.
On Tuesday, he was named as the second biggest investor in Daniel Stewart, the broker that lost a slew of clients after giving up its nominated advisor (Nomad) licence last year. Mr Terry now holds 7.4pc of the company, having bought shares directly and through company and family interests, the firm said.
Shares in Daniel Stewart rose 750pc, reaching 1.7p, its highest closing price since 2011.
Let’s just say that I wouldn’t be sticking any money in any placements from that broker.