Blue Oar becomes Astaire after rebranding

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Vandyk rebranded it Astaire after the Astaire & Partners private-client arm owned by Blue Oar. Rival private-client brand Rowan Dartington will continue to operate as part of the Astaire group. It was a snub for Monk, who chose the Blue Oar name after his rowing days at Oxford University.

The firm's 2008 losses were £16.1 million against 2007 profits of £1.9 million. Monk was replaced at Blue Oar by former chief executive Vandyk last month after Evolve Capital, in which Vandyk has a near-8% holding, took a 65% stake.