‘This is a totally new business,’ assures City luminary and Oxford graduate Andrew Monk, drafted in as chief executive of broker Blue Oar (formerly Corporate Synergy) in March. In his brief time at the helm, the AIM-listed group has been restructured and established its sporty new name reflecting the confident Monk’s love of rowing.

Monk claims to have infused Blue Oar with a new culture and vision as well as ‘high-quality’ new people, having pointedly shown ‘all the golf club stockbrokers’ the door. As well as completing acquisitions, Monk has pruned the client list to focus on fewer but ‘higher-quality’ customers.

He has set an early marker with strong interims to June revealing a rise in income to £8.9 million (£7.6 million) with pre-tax profits sailing 44 per cent higher to £2 million. Blue Oar closed the half with more than £19 million cash.

‘2007 is the year of restructuring and in 2008 you’ll see the real benefits,’ promises Monk, who plans to build £37 million Blue Oar into a £200 million business.

Blue Oar	AIM	£15.19m	9.12p	0.00p
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Other company articles:
Blue Oar buys Astaire			02/06/2008
Monk sets early marker			05/10/2007
Showing the door			02/07/2007