18th Oct 2007 08:30
Rathbone Brothers PLC18 October 2007 18 October 2007 Rathbone Brothers Plc Changes to the Board and Trading Update Rathbone Brothers Plc ("Rathbones") a leading provider of discretionary fundmanagement and wealth management services for private investors and trustees,today announces a number of changes to the Board and provides the market with atrading update. New Board Members David Harrel and John May will join the Board of Rathbones as non-executivedirectors on 1 December 2007. Mr. Harrel, aged 59, was a founding partner of S.J. Berwin LLP and seniorpartner for 14 years. He remains a consultant to the firm. In addition, he holdsa non-executive role with Wichford Plc. Mr. May, aged 52, is an executive director of Caledonia Investments Plc. Priorto joining Caledonia in 2003, he had worked for over 20 years with the HambrosGroup, where he was an executive director of Hambros Bank. He is a director of anumber of other companies including British Empire Securities and General TrustPlc and Begbies Traynor Group Plc. On the same date Jamie Cayzer-Colvin will step down from the Board of Rathbones,of which he has been a member for the last five years. On 31 December 2007 RoyMorris, who had been Chief Executive of Rathbones until 2004, will retire fromthe Board, following a quite remarkable fifty years of continuous service withRathbones - a contribution to the development of this Company which is unlikelyever to be surpassed. Trading Update Funds under management as at 30 September 2007 stood at £13.2 billion, comparedwith £12.2 billion as at 31 December 2006. These figures include funds managedby Rathbone Unit Trust Management of £2.1 billion, compared with £1.9 billion at31 December 2006. Mark Powell, chairman of Rathbone Brothers Plc, commented: "The last few months have seen periods of considerable market turbulence in theUK and beyond, although equity markets have remained reasonably buoyant. Thegrowth in our funds under management during the last nine months demonstratesconsiderable resilience and a continuing high level of organic growth. Duringthe last quarter of the year we will be watching carefully to see whether themuch publicised anxieties in world credit markets impact our flow of newbusiness. We are delighted to welcome David Harrel and John May to our Board and thank RoyMorris and Jamie Cayzer-Colvin for their important and valuable contributions toRathbones". ENDS For further information contact: Rathbone Brothers Plc 020 7399 0000 (Switchboard) Mark Powell, ChairmanAndy Pomfret, Chief ExecutiveEmily Morris, Marketing Director Smithfield 020 7360 4900 Miranda Good/ Reg Hoare Notes for editors: Rathbone Brothers Plc specialises in providing, through its subsidiaries,personalised investment management and wealth management services for privateclients and trustees, including discretionary asset management, tax planning,trust and company management, and banking services. It manages £13.2 billion offunds, including £2.1 billion managed by Rathbone Unit Trust Management (as at30 September 2007). For existing investment management and trust companyclients, Rathbones offers a range of banking services, from overnight cash andcurrency accounts to time deposits and overdraft facilities. Appendix Listing Rule disclosures Directorships of publicly quoted companiesMr. Harrel is currently a director of Wichford Plc. He has not held any otherdirectorship of a publicly quoted company in the past five years. Mr. May is currently a director of Caledonia Investments Plc, British EmpireSecurities and General Trust Plc and Begbies Traynor Group Plc. He is also adirector of Kingdom Group Holdings Limited, a company incorporated in the CaymanIslands and listed on the Hong Kong Stock Exchange. In the past five years he has been a director of Apace Media Plc (formerly FTVGroup Plc - resigned October 2002), Incisive Media plc (resigned December 2006)and of Vianet Group Plc (resigned January 2004). OtherSave as disclosed above in relation to other directorships of publicly quotedcompanies, no information is required to be disclosed pursuant to Listing Rule9.6.13. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rathbone