Mid-market advisor Altium Capital has poached two executive directors from DC Advisory to head up a new UK debt advisory team, according to a source close to the process.
Richard Clark (pictured) and Simon Chambers will join the firm’s London office as managing directors in early September and work alongside Altium’s mergers and acquisitions team.
The boost to the London team expands the debt advisory service Altium first established in Frankfurt. In October 2012, Altium hired Norbert Schmitz and Johannes Schmittat to lead a new debt financing and restructuring team, both of whom had also previously worked at DC Advisory. In 2013, Altium opened a new office in the city.
Clark and Chambers will head up a UK team that will work closely with their ex-colleagues in Frankfurt.
Clark joined DC Advisory debt advisory group in 2010. Prior to that, he spent nine years at Close Brothers and Houlihan Lokey, advising clients on acquisitions, refinancings, covenant resets and restructurings.
Chambers joined DC Advisory in 2007 and, like Clark, has advised a number of private equity clients. Prior to his role at DC, he spent six years at Barclays with roles in investment banking, leveraged finance and property.
Altium was set up in the early 1980s when the founders of private equity firm Apax Partners set up a corporate advisory business operating in the UK.
Altium Capital declined to comment.