11th Feb 2016 08:30
LONDON (Alliance News) - Intermediate Capital Group PLC on Thursday named Kevin Parry, currently senior independent director, as its new chairman, in a move to replace Justin Dowley, who will retire in July after more than a decade on the board and six years in his most recent role.
The search for a new chairman involved an external recruitment firm. After benchmarking external candidates, Intermediate Capital said, the group settled on Parry for his "extensive industry experience" and "deep knowledge" of the company and its operations.
Parry also is a non-executive director of Standard Life PLC and Daily Mail & General Trust PLC and Chairman of the Homes and Communities Agency. He used to be the chief financial officer of FTSE 100 asset manager Schroders PLC and was a managing partner at KPMG.
"I am proud of what the company has achieved in transitioning its business model from being primarily an investment company to a leading specialist asset manager," Dowley said.
Non-Executive Director Peter Gibbs will replace Kevin Parry as senior independent director.
Shares in Intermediate Capital Group were down 2.2% at 527.00 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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