Sam Smith steps down as CEO of finnCap after 24 years
After 24 years leading the finnCap business, Sam Smith, CEO, has announced her intention to step back from the CEO role in the autumn this year and move into an advisory role in the Group.
In 1998, Sam established a corporate finance business for JM Finn & Co. Ltd and led a MBO of this business in 2007. Under her leadership, she and her team have grown the finnCap business into a leadership position as a NOMAD and broker to AIM companies having executed its IPO and acquisition of Cavendish Corporate Finance LLP (“Cavendish”) in 2018.
The IPO and acquisition of Cavendish enabled the Group to pursue a strategy of revenue diversification and, alongside its original equity capital markets service, the Group now offers private and plc M&A advice services and has established debt advisory and private capital teams. In May, it made its first move outside of financial services with its acquisition of a 50% stake in Energise Ltd, an ESG related sustainability consultancy.
In 2022, finnCap generated revenues c.£52m – over ten times more than the finnCap business generated in its first full year of operation.
Sam Smith will step down as CEO and as a director on 1 September 2022 and, in light of her knowledge and experience, she will remain as an adviser to the new leadership team and Energise.
The Board of finnCap also announces that John Farrugia, managing partner of finnCap Cavendish, the Group’s M&A advisory business, will become a director of the Company following completion of the required AIM regulatory due diligence. John will be appointed CEO designate and, following FCA approval, will become CEO after Sam’s departure.
John Farrugia became managing partner of finnCap Cavendish and joined the Group’s executive committee in November 2020. He has over 20 years’ experience in investment banking, primarily within mergers and acquisitions.
In addition to the above, the Board also intends to appoint Geoff Nash, a director and senior leader in the Group’s equity capital markets business, as a director of finnCap to ensure that it continues to have direct and relevant insight into this key business of the firm. This appointment is also subject to completion of the required AIM regulatory due diligence.
finnCap will issue its results for the year ended 31 March 2022 on 14th July 2022.
