Sam Smith is stepping down as chief executive of finnCap Group PLC after 24 years in charge of the business.
Her successor, when she steps into an advisory role in September, will be John Farrugia, managing partner of finnCap Cavendish.
“We have a truly great business with some amazing people, that I have loved working with and I am delighted to leave it in their very capable hands,” Smith said.
Establishing a corporate finance business for the wealth manager JM Finn in 1998, Smith went on to lead its management buyout nine years later.
The group has grown to become a nominated advisor and broker to companies and added M&A advisory expertise in 2018 with the acquisition of Cavendish Corporate Finance.
For the year ended 31 March 2022, finnCap generated £52mln of revenues – over ten times more than it made in its first full year.
CEO designate Farrugia said: “What has been achieved over the past 24 years under Sam's leadership has been truly remarkable and I am delighted to be entrusted with the leadership of the group and continue developing the business over the foreseeable future.
“We have built an exceptional financial services business providing a range of financial products and services which are unrivalled in the market in which we operate.”
Farrugia, who joined finnCap’s executive committee in late 2020, has over 20 years' experience in investment banking, primarily within mergers and acquisitions.
In the same announcement, investors were told that Geoff Nash, a founding shareholder and key member of the 2007 management buyout, will also be appointed to the board.