Cenkos founder resigns
ONE OF the City’s best known stockbroking veterans hung up his braces yesterday after 40 years in the industry.
Andy Stewart said he had resigned as non-executive deputy chairman of Cenkos, the broker he founded in 2005, with immediate effect. He did not give a reason for the move, but had already stepped down from an executive role at the company earlier this year to spend more time with his family, after his son Paul suffered a horrific snowboarding accident that left him partially paralysed.
Stewart, a keen racehorse enthusiast, also co-founded broker Collins Stewart in 1991.
Cenkos’ non-executive chairman Peter Sullivan, the former chief executive of Standard Chartered’s Hong Kong operations, paid tribute to Stewart’s passion and commitment, which he said had been a “driving force” behind the business’ success.
“Without Andy there would be no Cenkos,” Sullivan said. “He leaves with our best wishes.”
Cenkos was recently hired to advise Lord Levene and Sir David Walker on their new retail banking venture.