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Blue Oar becomes Astaire after rebranding
15 Apr 2009Blue Oar chief executive Edward Vandyk today ditched the stockbroker's name, having seized control from founder Andrew Monk.
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.
