Oliver Hemsley is to step down as the boss of Numis Corporation, more than 25 years after he founded the City stockbrocker.
He will be replaced in the autumn by Alex Ham and Ross Mitchinson, who will serve as joint chief executives. Mr Hemsley is not leaving the company altogether, however, and will remain on the board as an executive director.
Numis made £16.8 million in statutory pre-tax profits over the six months to March 31, it said on Friday — a year-on-year increase of £4.9 million. It generated £56.8 million in sales over the same period, up from £45.7 million.
While Mr Ham has led the company’s corporate broking division since 2012, Mr Mitchinson currently heads up its equities business. The pair will join the Numis board as executive directors in July.
Announcing his departure on Friday, Mr Hemsley said the time had come to hand over the reins to the next generation.
Advertisement
“The business is in really good health having just reported excellent half-year results and is well positioned to grow in the future,” he said. “I intend to play a full part in helping to develop the business further.
“Alex and Ross have worked alongside me for a number of years now and I have huge confidence in them, their vision for the firm, and their determination and commitment to its continued success.”
Updating on half-year results, the company said that 12.2p in statutory earnings had been allocated per share.
Gerald Corbett, non-executive chairman at Numis, paid tribute to Mr Hemsley for overseeing the company’s growth. “His leadership, energy and drive have been invaluable to the success of Numis and I am delighted that he will remain on the Board so that the company can continue to benefit from his vast experience,” he said.