Retail equities analyst, Numis Securities

Andrew Wade may work for a relatively small brokerage but he and Numis have been punching above their weight when it comes to ecommerce.

Numis was on the ticket for the flotation of Ocado last year and is among the brokers on hand for the IPO of The Hut, which has now been put on hold.

Wade won his spurs as an analyst when he worked for the legendary Richard Ratner of Seymour Pierce before moving to Numis.

He has established a reputation for insight on a range of traditional retailers, which he seems to be successfully extending into the new breed of pure-play specialists. He will need use his expertise to present convincing stories as investors increasingly question etailers’ prospects.

Ocado’s troubled share price history since its flotation, and the lowly valuation achieved on the sale of, show that investors in digital businesses may not make the stellar returns hoped for.