Sam Smith, CEO at AIM broker finnCap, is set to step down after over two decades, shifting into an advisory role at the group.
Smith founded the nominated advisor (NOMAD) and AIM broker in 1998, leading it through its IPO and acquisition of Cavendish Corporate Finance in 2018.
John Farrugia, managing partner of finnCap Cavendish will become director of the company and will be appointed CEO designate, becoming CEO following Smith's departure.
Farrugia joined the group in 2020 and has worked across investment banking for over 20 years.
Founding shareholder Geoff Nash will also be appointed as a director of the group.
Robert Lister, chair, said: "Our thanks go to Sam for her leadership and guidance for finnCap over the past 24 years; we now look to the future and to working with her in an advisory capacity."
"I am very pleased to confirm that John Farrugia, currently the managing partner of finnCap Cavendish, is going to be appointed as CEO designate. We also are pleased that Geoff Nash is joining the board to ensure that it has direct access to insight on the capital markets industry and will represent the capital markets team."
Smith added: "After 24 years building finnCap into a leading advisory business for the mid-market, the completion of the integration of our excellent M&A division, finnCap Cavendish, and our expansion into other advisory services with our recent investment into Energise, an exciting sustainability consultancy, it is now time for me to step back.
"After two record years of financial performance, I am delighted to be able to begin a handover process to John Farrugia our incoming CEO designate."