2nd Oct 2019 11:59
(Alliance News) - Asset manager Intermediate Capital Group PLC on Wednesday said Evan Davies, the former chief executive of Standard Chartered PLC, as chair designate, replacing Kevin Parry.
Davies was also the former chair at Standard and is currently an independent director of alcoholic beverage company Diageo PLC.
Intermediate said: "He has extensive experience in the financial services sector culminating in his roles at Standard Chartered. In addition, he has wide-ranging governance experience having served on the board of a number of significant companies, charities and other bodies."
Intermediate expects regulatory clearance for the appointment to be achieved later this year, following this, Parry will step down after a handover period.
Senior Independent Director Andrew Sykes said: "We are delighted to announce the appointment of Lord Davies following a wide-ranging search. The breadth of his experience, in both public and private companies, will be of great value to ICG as we continue our growth strategy. We look forward to him joining the board."
Shares in Intermediate were 4.0% lower at 1,357.00 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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