The Telegraph

Lorna Tilbian named Dowgate Capital chairman

Dowgate Capital sees opportunity in the new Mifid II rules 

14 January 2019 | 8:00PM

By Telegraph Reporters

A new City firm attempting to revive the traditional role of corporate broker has appointed  Lorna Tilbian, the former head of media at the investment bank Numis, as chairman.

Ms Tilbian retired from Numis in 2017 and has built up a portfolio of non-executive jobs, including seats on the boards of Rightmove and M&C Saatchi.

She joins Dowgate Capital as it seizes on the new Mifid II regulatory regime to carve out a niche as a specialist corporate broker.

Paul Richards, her media analyst colleague at Numis, is also on board as an executive director. David Lis, the former chief investment officer at Aviva Investors, is already in place as a non-executive.

Since the Big Bang finance sector deregulation of the 1980s, the traditional role of intermediary between companies and City investors has become secondary for big investment banks as they aim to sell financial products to corporate clients.

Mifid II makes specialist corporate broking more relevant again, according to Dowgate chief executive David Poutney, who has also acted as chairman.

“The introduction of Mifid II has completely changed the corporate broking landscape, but this provides as many opportunities as it does threats,” he said.

“In the new environment, it is increasingly difficult for smaller growing companies to attract the attention of investors. Our aim is to give these companies a louder voice and to help them raise the capital they need to grow.” Dowgate has attracted clients including Sir Martin Sorrell’s new venture S4 Capital.