PrimaryBid, the UK-based fintech connecting retail investors with public companies raising capital, has appointed Sir Donald Brydon CBE as its first chair.
Brydon will continue as chair of Sage Group until 30 September, when he takes on the same role at PrimaryBid, subject to regulatory approval.
He is an experienced first appointment for the fintech. His CV includes recently chairing the London Stock Exchange Group, and in 2019, he led an independent review for the UK government into the quality and effectiveness of audit.
Commenting on his appointment, Brydon says: “Being asked to become chair of such an ambitious and forward-thinking firm is a real privilege. Both individual investors and public companies stand to benefit when our capital markets are accessible to all, and PrimaryBid has been at the forefront of this inclusion agenda.”
He adds: “As was highlighted in HM Treasury’s recent market consultation, facilitating wider participation in the ownership of public companies is important and technologically achievable. PrimaryBid is a dynamic, pioneering platform with world-class backing, and I am looking forward to helping guide it to further success.”
Anand Sambasivan, chief executive officer of PrimaryBid, comments: “I am delighted that Sir Donald has agreed to become our first chair. He brings significant FTSE board experience and proven governance credentials at the highest levels of UK plc. His experience will be of great benefit as we continue to deliver on PrimaryBid’s ambition to build more inclusive public markets through our technology.”
Brydon’s appointment follows a period of significant growth for PrimaryBid, including a $50 million series B fundraise in October 2020, becoming fully regulated in the EU and launching alongside Euronext in France in June 2021.
PrimaryBid has also seen significant activity in the UK with more than 180 transactions conducted on behalf of UK public companies choosing to include personal investors in fundraises.