Shaw Stockbroking chairman Paul Masi is upbeat on the company’s earnings momentum, buoyed by new offices in Brisbane and Perth, but has a cautious tone around broader equity trading volumes.

Mr Masi, who was formerly the chief ­executive of Austock and head of Bank of America Merrill Lynch Australia, became chairman of Shaw in late 2013. He took over from Andrew Davis, who stepped down to travel with his family after almost seven years in the role.