Layton joins futures firm

Press, 6 October 1987, Page 47

Layton joins futures firm

Dr Brent Layton is back in the hot seat of futures dealing, having been appointed managing director of Egden Wighall and Company Futures, of Christchurch. Last year, Dr Layton was the manager of the futures department of John Marshall and Company, but left to start his own business, Futures Consultants. . Dr Layton said he would be unable to take his clients with him to Egden Wignail’s because they were futures dealers and as such now competitors. Egden Wignail and Company Futures would continue to concentrate on the three main futures contracts, which had the business and volume. Egden Wignail offered good opportunities for futures investors because of the close links the company has as sharebrokers with what is happening on the Stock Exchange, he said. Futures Consultants was providing services for futures trading members and large corporations on research, futures management systems, and other financial matters, such as foreign exchange control procedures.

It was not involved in picking trends in futures contracts, he said.

The business was successful, but the difficulty was that the consultancy was not a saleable business in terms of making a capital gain, Dr Layton said.

Dr Layton will retain his seat on the board of the New Zealand Futures Exchange. Mr George Price, the previous manager of Egden Wignail and Company Futures, has decided to trade futures professionally on his own account