Another CCZ trader jumps to Blue Ocean Equities

afr.com:

Hiring season is in full swing at Blue Ocean Equities.

Blue Ocean Equities chairman Brent Potts. 

Two months after the stockbroker picked up a handful of CCZ’s 10-strong team, Street Talk understands another trader has signed on the dotted line.

Sources said CCZ institutional sales and execution dealer Adrian Scott, described as a “jack of all trades”, has crossed over to Blue Ocean after almost 11 years with the firm. Prior, he was on the execution and facilitation team for Australian REITs at Macquarie Securities.

The stockbroker is also understood to have added ex-Baker Young head of corporate advisory Matthew Baker as a senior corporate adviser, who has moved up to Sydney for the role. He’s expected to continue to focus on biotech and tech companies, having previously raised funds for the likes of ASX-listed Arovella Therapeutics.

The move comes after CCZ Equities (nee CCZ Statton Equities) announced its mooted closure, after serving small-cap fundies for 24 years, as first reported by The Australian Financial Review.

Its decision followed a fall in small-cap trading volumes and transactions, amid poor performance from the broader index.

As firms such as CCZ wind up, big investment banks such as Jefferies and Barrenjoey have bolstered their ranks in equities sales and trading.