A burst of small-cap companies chasing fresh equity has nudged Shaw and Partners to add another director to its equity capital markets team.

Evercore vice president Maxwell Davies is set to join Shaw’s corporate finance and ECM team in April after almost five years with the US investment bank. Davies specialises in healthcare, leading a series of capital raises from the firm’s New York offices.

On his resume includes spinning out GE Healthcare and the subsequent $US3.4 billion sell-down by US giant General Electric, raising $US200 million-plus for biotech Altimmune and a $US150 million raise for privately held Gracell Biotechnologies, since acquired by AstraZeneca.

Before Evercore, Davies notched stints at Citi and JPMorgan. His appointment marks the second new director in Shaw’s ECM team in six months. The firm nabbed RBC Capital Markets director Tom Fraczek in October.

Shaws will put the pair to work servicing the small-cap market which has been on the up since November. Since then, Shaws has overseen a $75 million equity raise for Chrysos Corporation, a $60 million raise for Peninsula Energy and a $50 million raise for Bowen Coking Coal, among others. It’s also a joint lead manager on the Tasmea initial public offering, due to hit the ASX next month.

“While rate cut expectations have been pushed out, and may be shallower than some might hope for, our view is simply that rate cut visibility will allow capital allocation decisions to be made with confidence and we’ll see a corresponding pickup in ECM activity,” Shaws ECM head Conrad Anderson told Street Talk. “We are working with our corporate clients to be ready for that.”

The stockbroker has been on a hiring spree, vigorously adding to its wealth division. It’s also poached former Jefferies operative Abe Akra, Credit Suisse equities director Larry Gandler and Rio Tinto business advisor Dorab Postmaster for its emerging companies business.

Helping hand

Of note, Shaws’ Institutional Foundations Day 2024 on Friday brought in $511,000 for charity, with co-chiefs Earl Evans and Allan Zion kicking in an additional $100,000. Funds raised will be distributed to the Sydney Children’s Hospitals Foundation and the Australian Fund Manager Foundation.

“Shaw and Partners is honoured to provide a platform for pooling resources in the Australian financial services industry,” Shaws equities head Anthony Wilson said. The firm also donates to smaller charitable groups, including Odyssey House NSW, Mirabel Foundation, Reach Foundation, Life Ed, Katrina Dawson Foundation, Children’s Cancer Institute, and the GO Foundation.

“Since 2016, the Shaw and Partners Institutional Foundation Day has raised over $2.7 million for charitable causes—a remarkable achievement for all involve,” Evans said. “Our heartfelt appreciation goes out to our institutional clients for their continued support and generous contributions on this special day.”