On Tuesday, he was named as the second biggest investor in Daniel Stewart, the broker that lost a slew of clients after giving up its nominated advisor (Nomad) licence last year. Mr Terry now holds 7.4pc of the company, having bought shares directly and through company and family interests, the firm said.

Quindell this week announced the sale of its biggest division to the law firm Slater and Gordon as it tries to transform into an insurance technology firm.

Less than an hour before the announcement naming Mr Terry as a major investor, Daniel Stewart issued a statement noting its soaring share price, but adding that “in this context, that there are no corporate transactions in contemplation”.

Meanwhile, Daniel Stewart’s shares were restored to the Alternative Investment Market (Aim) earlier this month, ending a five-month suspension that accompanied delays to its annual report.

The broker, set up in 1989 and once the advisor to Rangers FC, lost its licence to act as nomad in December, meaning it can no longer work on certain transactions for clients listed on Aim.

In January, the company raised £1.52m to help meet capital requirements. The fundraising brought in Epsilon Investments, a Singaporean vehicle that was set up in November 2014, as a new investor with a 9.9pc stake in the group.

Peter Shea, the chairman and chief executive of Daniel Stewart, owns 11.2pc of the company’s shares.

Daniel Stewart, its broker Westhouse Securities, Mr Shea and Mr Terry are yet to respond to requests for comment.