25 May 2012

Westhouse finance chief joins Northland

14/03/2011 Robert Tyerman

Tim Metcalfe, corporate finance chief and co-founder of broker Westhouse Holdings (WHL), is joining Canadian-owned Northland Capital, formerly Astaire. An experienced City player and former luminary of NM Rothschild and Robert Fleming, Metcalfe will head Northland's expanding corporate finance team, bringing with him particular knowledge of China, emerging markets and natural resources.

Metcalfe's move, which he describes as 'a difficult decision', comes in the wake of January's changes at AIM-quoted Westhouse, which paid £735,000 in shares at 49p and cash for broking and investor relations concern Smith's Holdings and appointed Christopher Getley, Smith's joint managing director, as chief executive of an enlarged Westhouse. However, Metcalfe insists the timing of his move to Northland is 'coincidental' and was in no way prompted by those changes.

He argues a CanadIan-owned investment bank such as Northland offers a good vantage point for dealing in his specialist sectors. Meanwhile, investors have responded well to Westhouse's Smith's Holdings deal, pushing the shares up from 49p, where we highlighted them in January, to 65p today, valuing the company at £7.9 million. Hold on.

Tags: AIM market, Natural Resources, Northland Capital, Tim Metcalfe, Westhouse Holdings

Sector: General Financial

Companies: Westhouse Holdings

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