Hudson Sandler director Nick Lyon is running the account and reports to Altium managing director Gary Levin.
Levin said the firm decided to change its adviser because of a possible conflict of interest over Buchanan’s role as adviser to rival brokerage firm Teather & Greenwood.
‘Buchanan has done a brilliant job for us over the last few years, but we felt that it would be more appropriate for us not to have a potential conflict of interest over an adviser that is also working for one of our business rivals,’ he said.
Altium recently emerged from an expansion that saw its securities division hire 15 people.
Levin said a key part of Hudson Sandler’s brief would be to highlight the
expansion and the group’s European capacity. Altium has 12 offices in the UK and Europe.
Altium advised investment banking group Evolution on its acquisition of broker Beeson Gregory, and counselled Online Travel on its move to go private.
Lyon is briefed to raise the bank’s profile, emphasising in particular Altium’s European coverage through its 13 offices on the Continent.