Fund manager eyes Scottish expansion

Scotland's fund management community has a new player in town in the shape of Shore Capital, the UK alternative asset class investment manager and ECM focused investment banking group. The firm has hired a team to kick-start its Edinburgh operation and intends to take on new recruits in the Scottish capital going forward.

Shore's new Edinburgh-based team has been lifted out of Landsbanki Securities (UK)/Teathers Limited. Richard Sloss and Andrew Keith, former Deutsche Bank employees, will work on the institutional stockbroking business, while David Phillips joins to cover research.

Clive Black, head of research for Shore Capital Stockbrokers, says the firm has wanted to offer its services locally for some time and that the new office gives it an opportunity to become a major player in Edinburgh, which it regards as an important financial centre.

Meanwhile, Simon Fine, managing director of the capital markets arm of Shore, said that the firm hopes to announce further hires "in due course".