Independent stockbroker Collins Stewart has hired an analyst from Arbuthnot Securities to focus on leisure and gaming stocks, one of the few sectors where companies have continued to use growth capital, as opposed to equity issues, to repair their balance sheets.

Paul Leyland joins the transport and leisure team at Collins Stewart from UK broker Arbuthnot Securities, where he covered the leisure sector, with a focus on gambling stocks. He has eight years experience covering the sector previously at investment banks Seymour Pierce and West LB.