Business briefs: Rangers | Orfi Capital | Morgan Sindall

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Investment bank Daniel Stewart & Company has been named as the new corporate broker at Rangers.

Previous broker Strand Hanson, which was appointed in July, will remain as the Glasgow club’s nominated adviser. Rangers floated on the Alternative Investment Market in December.

Last week, Rangers appointed former chief executive Charles Green as a consultant, and in a separate statement said it had received a call for a general meeting seeking the removal of current boss Craig Mather, finance director Brian Stockbridge and non-executive Bryan Smart.

• A trio of bankers led by former Royal Bank of Scotland (RBS) executive Geoffroy Wallier are launching a fund focused on the Asian credit market.

Hong Kong-based hedge fund Orfi Capital will start trading as early as the end of September, and will focus on high-yield corporate bonds.

Wallier, who was previously managing director at RBS Global Banking and Markets, has been joined by former RBS colleague Benjamin Robinot and Alain Chanezon, a former equity derivatives head of exotic trading for Asia at Barclays Capital.

• Construction company Morgan Sindall warned that “difficult” market conditions, which led to a 24 per cent plunge in first-half profits, are expected to continue for the rest of the year.

The group, which is behind the overhaul of Edinburgh’s Haymarket train station, said margins were coming under pressure due to tough competition in the construction and infrastructure sector. As a result, adjusted pre-tax profits for the six months to end-June fell to £15.4 million, from £20.3m a year earlier, despite revenues rising 2 per cent £1 billion.