Latest research:

EU Supply: Buying opportunity
James Cropper: Q3: Forecasts unchanged due to TFP growth
Hiscox: Q3 IMS flagging upside potential
Beazley: Solid Q3 and positive outlook tone
Scotgold Resources: Rights Issue to Raise £2.65m
Warpaint London: Acquisition & placing to raise up to £21.2m
Jardine Lloyd Thompson Group: Q3: solid and on track
Lancashire: Looking through Q3 to FY2018-19E
Braemar Shipping Services: Markets in H1 challenging. Stronger H2 expected
Taliesin Property Fund: Still undervalued
James Cropper: Reassuring trading update
Tricorn Group: Positive trading update
Lancashire: Net losses in US$106-212m range
Hiscox: Potential US$225m hit from Harvey, Irma
Lakehouse: Orchard sale sharpens focus and cuts debt
Warpaint London: Orchard sale sharpens focus and cuts debt
APC Technology Group: Recovery and growth potential
SQS Software Quality Systems: H1 demonstrates continuation of trends
M Winkworth: Capital appreciation?
ProPhotonix: Stronger balance sheet and new products
Braemar Shipping Services: Acquisition of NAVES Corporate Finance GmbH
EU Supply : Contract win momentum set to continue
B.P. Marsh & Partners : Global insurance rates
Quarto Group : Termination of bid discussions
Beazley : Ransomware attacks rise
Quarto Group : 2017 Interims. Plus approach to the company
Hiscox : Doing what it says on the tin
Northbridge Industrial Services : Estimates unchanged following H1 update
Jardine Lloyd Thompson Group : Focusing on the medium term story
Lancashire : Focus on the ROE and Yield
FDM Group : Further outperformance – a stellar H1
Sprue Aegis : Strong return to profitability
Brave Bison Group : 2017 interims – reassuring start
Beazley : Specialty leads the way
Jardine Lloyd Thompson Group : Focusing on the prize
Hiscox : Retail is underpinning the business
Lancashire : Paid to sit tight
ProPhotonix : Trading update/extension of Rights Plan
Novae Group : M&A – show me the money
Taliesin Property Fund : Portfolio revalued upwards by JLL
Beazley : Non Life Insurance
Quarto Group : FY2017 downgrade following update
SQS Software Quality Systems : Solid H1 trading
Utilico Emerging Market : Access emerging market infrastructure assets
ECSC Group : Growing pains
James Cropper : Excellent results, increased forecasts and TP
Lakehouse : Two-speed recovery
Warpaint London : Positive AGM statement
Braemar Shipping Services : Progress in Q1 though end markets still tough
Jardine Lloyd Thompson Group : Setting out the future stall
Eu Supply : Framework agreement/target price increase
Sprue Aegis : Reassuring AGM statement
Helios Underwriting : Acquisition of LLV Nottus
Beazley : Cyber Forum – 14 June 2017
Northbridge Industrial Services : Early signs of uplift in sentiment continue
Tricorn Group : Profit recovery gathering steam
Private & Commercial Finance Group : Interims and banking mobilisation on track
Nighthawk Energy : Focus on RBL negotiations and Waterflood
Helios Underwriting : FY16 results please
EU Supply : AGM statement focuses on growth
Andes Energia : Up with events
ECSC : Further increase in target price
Sprue Aegis: 5% dividend yield
Helios Underwriting : Doing what it says on the tin
ProPhotonix : Confident AGM statement
Quarto Inc : Platform for growth in illustrated publishing
Private & Commercial Finance : Buying opportunity
K&C Reit : Main asset outperforms expectations
Warpaint London : Increased TP on back of maiden results
Braemar Shipping Services : Resilient Shipbroking performance underpins results
Novae : In need of a break…
Lakehouse : Emergency call-out
Synectics : Reassuring AGM statement
FDM : Robust AGM statement
Jardine Lloyd Thompson : Steady as she goes
EU Supply : On track for sustainable profit
Northbridge Industrial Services : O&G demand to stay “lower for longer”
Ascent resources : FY2016 results review
Ascent resources : First commercial gas production
Tricorn Group : 2017 trading update
Synectics PLC : Contract wins support full-year forecasts
Helios Underwriting PLC : 2014 YOA drives PBT upgrade
JKX Oil & Gas : Huge potential but tax issues to solve
Sprue Aegis : Profit improvement impacted by dollar
Brave Bison Group PLC : 2016 results
Quarto Group PLC : FY2017 results – Focus on core publishing
EU Supply PLC : Another contract win
M Winkworth PLC : Resilient performance in “difficult” market
Prophotonix Ltd : Increased target price on strong 2016 results
Private & Commercial Finance Group : AGM confirms trading in line
FDM Group PLC : A year ahead of plan
K&C Reit PLC : REIT to buy
SQS Software Quality Systems AG : Market transition
Hiscox Ltd : Rah Rah Retail
Novae Group : Ogden pain will add to PBT pressure
B.P.Marsh & Partners : Global Insurance rates – glass half empty?
ECSC Group PLC : Reassuring trading update
Synectics PLC : Profit growth continuing at a slower pace
Brave Bison Group PLC : Robust 2016 trading offset by 2017 outlook
Lancashire Holdings : Delivering, regardless
Northbridge Industrial Services : Outlook for 2016 remains broadly in line
SQS Software Quality Systems AG: Key takeaways from investor teach-in
Beazley: Feel the quality, check the price
Private & Commercial Finance Group: Banking licence increases opportunities
Quarto Group: FY 2016 trading update
Ascent Resources: Successful Pg-10 flow test
EU Supply PLC: Another positive trading update
Sprue Aegis: Reassuring 2016 trading update
Braemar Shipping Service PLC: Technical continues to underperform
EU Supply PLC: Positive 2017sales momentum continues
FDM Group Ltd: A few positives in the January 2017 renewals
SQS Software Systems: Robust 2016 trading update
Lloyd Fonds AG: A few positives in the January 2017 renewals
Helios Underwriting: Proposed acquisition
ECSC: Positioning itself to be a major cyber security company
Forterra PLC: Brick stock overhang continues to abate
Helios Underwriting: 2017 opening capacity rises 16%
Scotgold Resources: Application to Extent Bulk Processing Trial
Synectics PLC: No change to profit forecasts
Private & Commercial Finance Group: Excellent FY2016 results and banking licence
Novae group: Taking a lot more icing off the cake
Tricorn Group: Starting to build profits again
Beasley PLC: Cyber drives a major opportunity
Helios Underwriting PLC: Year of account estimates improve
Scotgold Resources: High grade, low cost gold
Advanced Oncotherapy PLC: Delay on Harley Street and Sinophi update
Majedie Investments: Well placed for the bond sell off
Forterra PLC: Solid statement. Stronger cash flow.
Cropper (James): Increased target price and rating upgrade
Beazley PLC: Specialty still rules
Novae Group: Taking a bit of icing off the cake
Hiscox: Retail driving growth
M Winkworth PLC: London slowdown signalled
EU Supply: Positive readacross from Millstream
Jardine Lloyd Thompson Group: Q3 update is once again mixed
Lancashire Holdings: It’s the yield…..
Quarto Group: Q3 update
Ascent Resources: Capital raise to unlock first gas in Q1 17
Helios Underwriting: Results of capital raise
Private & Commercial Finance Group: Positive trading update
The Quarto Group: Five easy P(iece)s
EU Supply: Contract win good, sterling weakness bad
Aberdeen Japan Investment Trust: US inflation set to accelerate
Helios Underwriting PLC: H1 2016 PBT (Norm) improved materially

Stockdale Securities is a leading institutional stockbroking and corporate advisory firm focused on small and mid-cap companies

A trusted bridge between our corporate and institutional clients:

  • We provide focussed, sector specialised teams with topical intelligent insight
  • We enable companies to access capital to drive growth and fulfil their ambitions
  • We are an integrated business – our corporate, sales, trading and research teams stand together

Our experienced team is dedicated to the success of its clients. Through establishing long-term and valued relationships, we deliver a quality and tailored service

  • What we do
  • For our corporate clients, in addition to acting as broker, we also provide financial advice and offer Sponsor and Nomad services for Main Market and AIM companies. Critically, we enable companies to access capital to drive growth and fulfil their ambitions. In the last 12 months we have been involved in over 20 transactions with a total value of over £1.5bn.

    We have dealing relationships with over 400 UK institutional investors for whom we provide in-depth, quality research, advice and trading services.

  • How we do it
  • All areas of the firm – sales, sales trading, trading, research and corporate finance & broking – work together to provide a fully integrated service which is tailored to the needs of our corporate clients, in a way that also helps their shareholders – our institutional clients – make money.

    Corporate broking done well is about relationships rather than transactions: taking the long view, not acting expediently; about teamwork not individuals and, above all, acting with integrity.

  • Our focus
  • We are focused on small and mid-cap companies in the following sectors:

    Financials

    • Research

      Joanna Parsons

      020 7601 6133

      Joanna joined the firm as Head of Research in August 2012. She has been one of the top Extel-ranked small/mid cap Insurance analysts for a number of years as well as extensively covering the General Financials sector. She has also been individually ranked No1 in Extel for all small cap analysts. Joanna previously held the position of Head of UK Mid Market Research at RBS Global Banking & Markets and prior to that worked at ABN AMRO as part of the highly-rated mid/small cap team and at HSBC
    • Sales

      Mark Brown

      020 7601 6126

      Mark Brown joined the firm as Executive Chairman in November 2014. He was previously Chief Executive of Collins Stewart Hawkpoint and brings a wealth of experience and leadership in both small and large investment banks. Having worked as the Global Head of Research for ABN AMRO and HSBC, and as Chief Executive of ABN’s UK equities business, Brown led the successful turnaround of Arbuthnot Securities followed by Collins Stewart Hawkpoint.
    • Corporate

      Antonio Bossi

      020 7601 6125

      Antonio has 19 years’ investment banking experience in M&A and ECM with Barings, ABN Amro and Arbuthnot, principally in the London and Italian markets. Antonio is a Qualified Executive for AIM.

    High Growth Companies

    • Research

      Peter Ashworth

      020 7601 6112

      Peter joined the firm in December 2015, having previously been an analyst at Charles Stanley Securities and Teather & Greenwood. He has considerable experience as a smaller companies’ analyst, focussed upon both full list and AIM companies.
    • Research

      Robert Sanders

      020 7601 6111

      Robert joined Arbuthnot Securities, which merged with the firm in 2012, in October 2003. Since then he has focused on building a leading franchise in fast-growing smaller companies. Prior to Arbuthnot, Robert was a fund manager at Smith & Williamson, where he ran the S&W Smaller Securities Trust and the S&W Global Technology Trust.
    • Corporate

      Tom Griffiths

      020 7601 6139

      Tom is an experienced corporate finance director. He has advised UK small and mid-cap companies across a wide variety of transactions including IPOs, further equity issues and M&A deals. Tom is a Qualified Executive for AIM.

    Investment Funds

    • Research

      Saumya Banerjee

      020 7601 6629

      Saumya started work in the City in 1998 as an investment funds analyst and was head of country funds research for JP Morgan. He has also been a derivatives analyst, run a proprietary trading book for JP Morgan and been a hedge fund manager. Saumya holds a PhD in Financial Economics from Boston University.
    • Sales

      Richard Harris

      020 7601 6107

      Richard joined the firm in September 2015 from Kepler Partners. He began his career in the City in 1993 specialising in closed end fund sales, working for 8 years at Olliff and Partners and Robert Fleming. He moved into Asian Equity Derivative Sales in 2001, working at JP Morgan, Citigroup and Barclays Capital before returning to investment trusts in 2014 at Kepler.
    • Sales

      Matthew Kinkead

      020 7601 6626

      Matthew has over 20 years’ sales experience in the City. He joined the firm in December 2010 from Arbuthnot Securities, where he specialised in investment funds sales. Before this Matthew held sales roles at Olliff & Partners, Panmure Gordon and Collins Stewart.
    • Corporate

      Robert Finlay

      020 7601 6115

      Robert has over 25 years’ experience advising UK and international companies on accessing and transacting in the UK capital markets. Prior to joining the firm at the start of 2013, Robert was head of corporate finance at Canaccord Genuity’s London operations. He has also worked at James Capel & Co, Credit Lyonnais Securities and Hoare Govett.

    Oil & Gas, Mining

    • Corporate

      Robert Finlay

      020 7601 6115

      Robert has over 25 years’ experience advising UK and international companies on accessing and transacting in the UK capital markets. Prior to joining the firm at the start of 2013, Robert was head of corporate finance at Canaccord Genuity’s London operations. He has also worked at James Capel & Co, Credit Lyonnais Securities and Hoare Govett.
    • Research

      Mark Henderson

      020 7601 6100

      Mark joined the firm in 2013 and has 18 years’ experience as an international energy investment analyst. He was previously co-head of the Extel-ranked European oil & gas equity research team at Credit Suisse and also has experience at the Abu Dhabi Investment Authority after qualifying as a Chartered Accountant.
    • Sales

      Josh Nimmo

      020 7601 6143

      Josh joined the firm in March 2014. He previously worked in sales roles at trading firm Tradition in London and also at Taylor Brunswick in Hong Kong.
    • Research

      Alison Turner

      020 7601 6100

    Property, Construction & Support Services

    • Research

      Alastair Stewart

      020 7601 6100

      Alastair has over 30 years’ experience in the construction, housing, building materials, PPP and property sectors. He was a financial journalist for 12 years at Building magazine. He has worked in equities research since 1996 and was previously at Robert Fleming Securities, Dresdner Kleinwort and Investec.
    • Sales

      Simon Wickham

      020 7601 6141

      Simon joined Arbuthnot (which merged with the firm in 2012) in May 2009. He has 15 years’ experience in UK equities and was previously a director and senior UK equity small and mid-cap salesman at Dresdner Kleinwort. Simon’s core franchise is with major UK long only institutions in London and Edinburgh as well as the larger hedge funds.
    • Corporate

      Robert Finlay

      020 7601 6115

      Robert has over 25 years’ experience advising UK and international companies on accessing and transacting in the UK capital markets. Prior to joining the firm at the start of 2013, Robert was head of corporate finance at Canaccord Genuity’s London operations. He has also worked at James Capel & Co, Credit Lyonnais Securities and Hoare Govett.

    Technology & Media

    • Research (Technology)

      Gareth Evans

      020 7601 6100

      Gareth became the firm's Software & IT Analyst in March 2014. Prior to this, he was Joint Head of Research at Investec and the Technology analyst for both Investec and Canaccord Genuity. He is a qualified Chartered Accountant and began his career at Arthur Andersen.
    • Research

      Brendan D’Souza

      020 7601 6129

    • Corporate

      Andy Crossley

      020 7601 6108

      Andy Crossley joined the firm as Managing Director in April 2015 to lead our corporate broking efforts and to ensure alignment across research, sales, trading and corporate broking and finance. Andy was previously Head of ECM at Peel Hunt for four years. Prior to that, he was one of the UK’s best known and pre-eminent UK small cap fund managers for over twenty years, primarily at Invesco Perpetual. Andy is a member of the LSE Aim Advisory Group.
    • Sales

      Simon Wickham

      020 7601 6141

      Simon joined Arbuthnot (which merged with the firm in 2012) in May 2009. He has 15 years’ experience in UK equities and was previously a director and senior UK equity small and mid-cap salesman at Dresdner Kleinwort. Simon’s core franchise is with major UK long only institutions in London and Edinburgh as well as the larger hedge funds.
  • Who we are
  • Stockdale is a private company and staff are shareholders in the business. Our main shareholder is Somers Ltd, which is an investment holding company specialising in the financial services sector with UK investments in asset management, asset financing and stockbroking. Somers’ shareholder equity as of 30 September 2014 was US$215m.