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He replaces Stephen Whelton who has left the company after five years to pursue other career opportunities. Welton resigned from the company on 20 March 2008.

Hyde, 55, is an London School of Economics graduate and chartered accountant having qualified with Arthur Andersen in 1978.

He has held senior positions in finance and operations throughout his career, most notably with Credit Suisse First Boston, Oppenheimer Group, Bank Brussels Lambert and as head of finance and administration of the shareholder activist arm of Hermes Pensions Management.

More recently, Hyde has completed various assignments within financial services as an interim finance director and/or chief operating officer.  

He is member of compliance, operations and risk professional forums of the Securities and Investment Institute and is also an active participant in several other City professional and financial services interest groups.

Hyde was a director of several UK companies within the Bank Brussels Lambert Group (BBL), which entered members’ voluntary liquidations as a consequence of the acquisition of BBL by the ING Group. 

He previously held directorships with UK and other subsidiaries of the USA based Oppenheimer & Co., Inc and Oppenheimer Capital L.P. Groups.

Shortly after he resigned as a director some of these subsidiaries were re-structured following the acquisition of their USA parents by Canadian Imperial Bank of Commerce and the Pacific Investment Management Company (PIMCO) respectively.

Merchant Securities (LSE:MERC) is an institutional and retail client stockbroking company specialising in corporate finance, retail client investment management services and institutional sales trading.

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• Merchant Securities plc