12th Sep 2005 06:57
Friends Provident PLC12 September 2005Retirement of DirectorFriends Provident plc, the FTSE 100 financial services group and owner of 51%of F&C Asset Management plc (F&C), the leading asset management group, hasannounced today the retirement of Howard Carter as an executive director ofFriends Provident plc and as Chief Executive of F&C. He will officially retirefrom the Boards of Friends Provident and F&C at their respective Annual GeneralMeetings in May 2006.Alain Grisay, the Deputy Chief Executive of F&C, will succeed Howard Carter asCEO with effect from January 1 2006 to ensure a smooth transition.Howard Carter was instrumental in developing Friends Provident's listed fundmanagement business before becoming CEO. Since then, over the last five years,he has directed and overseen the strong growth of the business, culminating inthe successful merger with F&C in 2004 to create a top five UK asset managerwith a significant Continental European presence.Since the merger with F&C last year, Alain Grisay has taken primeresponsibility for the development of the F&C business in Continental Europe.He joined F&C in 2001 from JP Morgan.Commenting on Howard Carter's retirement, Keith Satchell, Group CEO of FriendsProvident paid tribute to the key role he has played in the continueddevelopment of both the Group and the asset management business, the quality ofthe management team he has built and the promising business opportunities:Working closely with Howard I have valued his enormous contribution as a memberof the senior management team of the Group.After the Group identified the asset management opportunity, Howard deliveredthe reality. He has been the skilful driving force in building the businessinto its current scale and success and will continue to work with Alain overthe coming months to build on that success.Alan Grisay has an excellent track record and the right experience and skillsto drive the business to the next stage of development. This means F&C isideally placed to continue building the business in the UK and to capitalise onthe emerging new opportunities in Continental Europe.Enquiries:Nick Boakes Friends Provident plc 0845 641 7914Jason Hollands F&C Asset Management plc 020 7506 1168ENDENDFRIENDS PROVIDENT PLCRelated Shares:
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