Winterflood Securities, whose market-making service oils the trading wheels of the Square Mile, is bidding farewell to its chief executive.
Philip Yarrow is stepping down on September 20, 2022, after 22 years with the company, seven as its CEO.
He will be replaced by Bradley Dyer, who has been with the business since 2004.
Winterflood, known by its dealing screen abbreviation WINS by many in the City, is owned by Close Brothers Group PLC (LSE:CBG), the merchant bank.
It was founded in 1988 by Brian Winterflood, who was one of 37 staff to quit County NatWest, the investment arm of the high street bank.
In 1995 it began trading in AIM stocks and provides market-making, or dealing services that maintain the liquidity of hundreds of London’s smaller listed companies.
In 2011 it set a record by executing 140,000 single trades in a day.