Sam Smith will step down as head of FinnCap

Sam Smith will step down as head of FinnCap, marking the departure of one of the few female CEOs of the City of London brokerage.

Smith, 48, will step down as chief on Sept. 1 and take on a consulting role. John Faruja, managing partner of the group’s mergers and acquisitions business, FinnCap Cavendish, will take over.

After starting his career at KPMG and qualifying as a chartered accountant, Smith set up a corporate finance business for JM Finn & Co, a private client broker, and led FinnCap’s subsequent spin-off in 2007.

Under her leadership, FinnCap became a nominated advisor and broker and added a merger and acquisition advisory unit in 2018 when it acquired Cavendish Corporate Finance. The company is the largest broker for companies listed on the London Stock Exchange Aim.

Smith’s departure from a financial services consultancy will reduce the number of women leaders in the City of London.

There are only nine women CEOs of FTSE 100 companies and a few women bosses among smaller urban companies.

Smith supports employee support programs, including a move to tackle burnout through supply unlimited paid leave and stipulating that staff must leave at least four weeks a year.

“After 24 years of making FinnCap a leading mid-market consulting business, now is the time to step back,” Smith said in a statement. “We have a really great business with some amazing people that I loved working with and I’m happy to leave it in their very capable hands.”

Faruja said: “What has been achieved over the last 24 years under Sam has been truly remarkable and I am pleased to have been entrusted with the leadership of the group and to continue to grow the business for the foreseeable future.”

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