Numis founder Hemsley: Politicians are too downbeat on City

The founder of Numis took a parting shot at the Government earlier for its pessimism about the stock market as he stepped down from the board of the City broker.

Oliver Hemsley, who will remain an adviser to the AIM-listed firm, said his biggest concern for the future of broking is being able to convince companies to raise money through public markets rather than from private equity.

“All of the political rhetoric is against public companies and how they structure themselves — there’s very little about private companies so people are naturally put off. I don’t think that’s helpful,” Hemsley said.

He suggested that for the stock market and brokers to thrive there should be “not too much emphasis on corporate governance and the perils of being on the market and more about the opportunities of using the stock market”.

Hemsley stepped down last year as chief executive to become an executive director, 25 years after founding Numis.