Ex-CEO returns to troubled stockbroker Cenkos 18 months after he left

Jessica Clark
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The Square Mile - London's Financial District
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Former chief executive of City stockbroker Cenkos Securities, Jim Durkin, has returned to the company just 18 months after stepping down.

Shares were up by two per cent after the announcement that Durkin, who stepped down in May after five years in the role and was replaced by former Bank of England economist Anthony Hotson, will return following regulatory approval.

Hotson’s departure was announced at the beginning of last month, weeks after the company reported a 90 per cent drop in profit in its September interim results.

Today the board also announced that chairman Gerry Aherne has stepped down and retired with immediate effect.

Non-executive director Jeff Hewitt will stand in as acting chairman while a replacement for Aherne is found.

Hewitt said: “We welcome Jim back to the company and have every confidence in Jim leading the company going forward.

“Jim is well placed to undertake the role having previously been on the board, and has been actively involved in the successful management of the company.”