Board of Directors Change (6598U)
December 28 2011 - 4:29AM
UK Regulatory
TIDMTAM
RNS Number : 6598U
Titanium Asset Management Corp
28 December 2011
Titanium Asset Management Corp.
Board of Directors Change
Milwaukee, WI, December 28, 2011 - Titanium Asset Management
Corp. (AIM - TAM) (the "Company") today reported that the board of
directors of the Company has elected Yoram Naveh as Chairman of the
Board of Directors. Mr. Naveh is currently a non-executive director
of the Company and has recently been appointed the Chief Executive
Officer of Clal Finance Ltd., succeeding Tal Raz, who has been
appointed Chief Executive Officer of another entity owned by IDB
Holding Corporation Ltd. Clal Finance Ltd. owns approximately 51%
of the Company's outstanding common stock and IDB Holding
Corporation Ltd. is an indirect controlling shareholder of Clal
Finance Ltd. Mr. Raz will continue to serve as a director of the
Company.
For further information please contact:
Titanium Asset Management Corp.
Robert Brooks, CEO 312-335-8300
Seymour Pierce Ltd
Jonathan Wright +44 20 7107 8000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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