Cavendish, the investment bank born from the £43 million merger of Cenkos and Finncap in September last year, unveiled expansion plans into Manchester, marking its first foray there.
To steer the new office, the City of London-based firm has appointed Oliver Tebbutt, a former partner at Deloitte's corporate finance team in Manchester, as partner, as reported by .
The new Manchester branch is set to open its doors in January, before relocating to an office at No. 1 St Michaels - the city centre development spearheaded by Gary Neville's Relentless Developments - in the spring.
This development follows Cavendish's strong performance with reported increases in dealmaking fees and the suggestion that more IPOs are forthcoming, signifying a return to profitability.
For the half-year ending on 30 September, 2024, Cavendish posted an adjusted pre-tax profit of £1.8 million, rebounding from a £3.6 million loss in the same period the previous year, alongside a 42 percent surge in revenue to £27.7 million and a 49 percent growth in investment banking fees to £24.9 million.
John Farrugia, co-chief executive of Cavendish, commented on the firm's expansion into Manchester: "As market confidence strengthens, we anticipate strong activity in both public and private company deals."
He elaborated on the company's reinforced position to assist an array of businesses, thanks to Cavendish's integrated capabilities and sector expertise, adding: "We have long held ambitions to expand into the regions, but were determined to find the right individuals to lead the business.
"Oliver's excellent pedigree, first-class relationships, and proven track record in building teams were key factors that attracted us."
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Mr Farrugia added: "Our new presence in the North West, a dynamic hub driving economic growth across the 海角视频, ensures we are well-equipped to help more 海角视频-based businesses achieve their ambitions and contribute to the continued expansion of the 海角视频's real economy."
Mr Tebbutt said: "Having spent the last 16 years advising entrepreneurial businesses in the North West, and having witnessed a shifting advisory landscape, I feel passionately that there is a clear role for a regionally focused advisory team that has both the appetite and experience to back ambitious management teams and their capital providers across multiple stages of growth and funding. We will achieve this through nurturing long term relationships.
"I am excited to have found in Cavendish, a shared vision to achieve this goal, and a wider team which is uniquely placed to advise across the capital spectrum as well as bringing relevant sector insight and global connectivity."
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