Investment bank Liberum hired a new head of investment banking, replacing City veteran Richard Crawley, who is stepping back after nine years with the firm.

Liberum, which is building its business beyond its traditional focus as a City corporate broker, hired Dru Danford as head of investment banking, a spokesperson confirmed to Financial News.

Danford left Shore Capital, the City broker founded by Howard Shore, in August.

He was head of corporate advisory at the firm for the past 12 years, having joined in 2004 from Old Mutual Securities. He will report directly to Liberum’s chief executive, Bidhi Bhoma, who took the top job in 2020 and has been expanding the investment banking unit.

READ Liberum hires How to fill role left by new chief executive

Crawley will become chair of Liberum’s investment banking board. He joined Liberum in November 2013 as head of corporate broking from Haitong Securities, and has previously worked at Credit Suisse and Oriel Securities.

In a statement, Bhoma said that Danford’s appointment would “further strengthen our investment banking team and take advantage of the opportunities that lie ahead”.

READ Our new investment banking newsletter is here. Sign up now

Liberum has 131 corporate clients with an average market capitalisation of £330m. Like many of its broking rivals, including the City’s biggest corporate broker Numis, Liberum has expanded beyond its roots and has been hiring dealmakers to diversify its revenue streams.

It has also been pushing into the US, most recently unveiling a tie-up with Raymond James to distribute its research in the country.

To contact the author of this story with feedback or news, email Paul Clarke

Leave a Reply

Your email address will not be published. Required fields are marked *