The most high-profile female stockbroker in the City has stepped down after nearly quarter of a century at the top.
Sam Smith, who founded FinnCap 24 years ago, took the decision to leave after clocking up some “unbelievable hours” in recent months, adding that she now wanted some time to herself.
The 48 year old who is the only woman to run a City stockbroker will hand over the reins to current managing partner John Farrugia in September. She will remain an adviser to the company.
Smith said: “As soon as you start thinking there’s an end date and you’re thinking about your successor, it just seems to snowball. That’s what happened to me”.
Smith, who has an eight-year-old daughter, added: “I’m really excited to have a break”.
“And finally, after 24 years, I might actually have a proper holiday where I don’t have to work every single day”. Smith is one of the most recognizable faces in the City and led the way for women to enter the world of stockbroking, traditionally a place for white middle-aged men.
She headed the management buy-out of FinnCap from JM Finn in 2007, just two weeks after Northern Rock collapsed and aged just 33.
She built the business into a renowned mid-cap broker with revenues of £52million last year after helping clients raise £700million to secure funding during the pandemic and advising on almost 30 merger and acquisition transactions worth around £2billion.
Smith still owns 10% of the firm which she wants to hold as a long-term investment.
She is best known for backing women in the industry. Of the company’s 149 employees, 38% are female, an impressive ratio compared to some other City firms.
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