RAT Rathbones Group Plc

 
TIDMRAT 
 
   Rathbone Brothers Plc 
 
   Board Changes 
 
   The Rathbone Brothers Plc ('Rathbones') Board announces that Andy 
Pomfret will be retiring as chief executive on 28 February 2014.  The 
current deputy chief executive, Philip Howell, will join the Board with 
immediate effect, becoming chief executive on 1 March 2014. 
 
   Andy Pomfret joined Rathbones in 1999 as group finance director and 
became chief executive in 2004.  Philip Howell joined Rathbones in March 
2013 having most recently been chief executive of Williams de Broe (part 
of the Evolution Group). 
 
   Commenting on Andy's retirement and the appointment of Philip, Mark 
Nicholls, chairman of Rathbones, said: 
 
   "Rathbones has flourished under Andy's strong leadership and we all wish 
him well in his future career.  It is a tribute to Andy's farsightedness 
that he brought in Philip as a potential successor at the beginning of 
the year.  Philip has become a key part of the senior team and I am 
delighted that he is taking over as chief executive.  The handover is 
already underway and I am confident that, under Philip, Rathbones will 
continue to prosper." 
 
   Andy Pomfret commented: "I've had a fascinating 14 years at Rathbones, 
initially as finance director and for the last nine years as CEO during 
which funds under management rose from GBP7.7billion at 31(st) December 
2004 to GBP20.8 billion at 30(th) September 2013.  I am delighted that 
we were able to recruit Philip earlier this year and have thoroughly 
enjoyed working with him.  Having recruited my successor, I believe it's 
now time to use my experience as both a CEO and a non-executive director 
to develop a plural career.  I wish Philip and everyone at Rathbones 
well for the future". 
 
   Philip Howell commented: "Leadership of Rathbones is one of the great 
privileges in our industry. I very much look forward to working with my 
colleagues to build on Rathbones' well earned position at the forefront 
of investment management and client service." 
 
   Ends 
 
   Notes for announcement 
 
   1.   Andy Pomfret was previously a non-executive director (and senior 
independent director) of Beazley plc and is currently a non-executive 
director of Graphite Enterprise Trust PLC. 
 
   2.   On retirement, Andy Pomfret will receive a termination payment 
being his base salary for the unexpired period of his contractual notice 
period. Deferred profit share awards for 2013 and earlier years will 
continue to vest on the third anniversary of the end of the financial 
year for which the award was made. 
 
   Long Term Incentive Plan awards for the 2011-13, 2012-14 and 2013-15 
Plan cycles will continue until their maturity, be subject to existing 
performance conditions but will be reduced pro-rata to reflect his 
period of service to 31 December 2013. 
 
   3.   Philip Howell will join the boards of both Rathbone Brothers Plc 
and Rathbone Investment Management Limited with immediate effect. He was 
a director of The Evolution Group Plc from June 2010 to May 2012. There 
is no additional information required to be disclosed pursuant to 
Listing Rule 9.6.13. 
 
   For further information contact: 
 
 
 
 
Rathbone Brothers Plc                   Quill PR 
 Tel: 020 7399 0000                      Tel: 020 7466 5054 
 email: marketing@rathbones.com          email: hugo@quillpr.com 
 Mark Nicholls, Chairman                 Hugo Mortimer-Harvey 
 Andy Pomfret, Chief Executive 
 Philip Howell, Deputy Chief Executive 
 
 
 
   Rathbone Brothers Plc 
 
   Rathbone Brothers Plc is a leading provider of high-quality, 
personalised investment and wealth management services for private 
clients, charities and trustees. This includes discretionary investment 
management, unit trusts, tax planning, trust and company management, 
pension advice and banking services. 
 
   Rathbones has over 840 staff in 13 UK locations and Jersey, and has its 
headquarters in Curzon Street, London. 
 
   www.rathbones.com 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Rathbone Brothers PLC via Globenewswire 
 
   HUG#1746862 
 
 
  http://www.rathbones.com/ 
 

Rathbones (LSE:RAT)
Historical Stock Chart
From Jun 2024 to Jul 2024

Rathbones (LSE:RAT)
Historical Stock Chart
From Jul 2023 to Jul 2024