ROBIN Waddell, who was the youngest-ever chairman of the Scottish
floor of the Stock Exchange back in 1976, has handed over his
chairmanship of Glasgow-based family stockbroking firm Speirs & Jeffrey
to brother Alan.
One of the pillars of the Scottish financial community, Robin Waddell,
63, has headed Speirs & Jeffrey for 16 years.
What strikes him most, looking back over his 35-year career, are the
enormous changes which have taken place on the stockbroking scene.
Robin Waddell said: ''It has been an absolutely fascinating 35 years.
When I started, everybody knew everybody in the Stock Exchange. Now I
don't suppose you see another stockbroker for months.''
When it comes to sobriety and prudence, Speirs & Jeffrey must be on a
par with Bank of Scotland. Robin Waddell believes his firm's low-profile
attitude helped it through the 1987 stock-market ''melee''.
With Allied Provincial Securities in the process of being taken over
by Greig Middleton's London-based parent, King & Shaxson, Speirs &
Jeffrey will be one of the last independent Scottish brokers.
Although Alan Waddell is only a year younger than his predecessor,
Robin Waddell believes he will head the firm for about 10 years.
The youngest Waddell brother, Gordon, 58, was capped 18 times for
Scotland at rugby and also played for the British Lions.
After a spell in South Africa, where he was an MP, Gordon Waddell
returned to the UK and is now chairman of waste management group Shanks
& McEwan.
The tradition of family succession at Speirs & Jeffrey could well
continue. Alan Waddell's 30-year-old son, Graham, is currently a
director.
Robin Waddell will continue to look after clients who have looked to
him for advice for 35 years.
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