Hmmm

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.

1 thought on “Hmmm”

  1. I think that you are being unfair to Daniel Stewart: there is no reason to suppose that the directors will allow themselves to be pushed around by a guy whose shareholding is one-third as large as theirs.
    Anyhow: “The broker, set up in 1989 and once the advisor to Rangers FC, lost its licence to act as nomad in December, meaning it can no longer work on certain transactions for clients listed on Aim.”

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