Yahoo Finance Rathbone Brothers Plc : Change in Director Responsibilities
Rathbone Brothers Plc
Change in Director Responsibilities
Rathbone Brothers Plc ("Rathbones") announces that Paul Stockton, currently its Group Finance Director, has accepted the newly created role of Managing Director, Rathbone Investment Management ("RIM"), subject to regulatory approval. Paul will continue to report to Philip Howell, Group CEO, and will continue as an Executive Director on the boards of Rathbone Brothers Plc and Rathbone Investment Management Limited. A process has started to identify and recruit a successor as Group Finance Director. Paul will retain his Group Finance Director responsibilities until this process is complete to ensure a smooth transition.
Paul has been Group Finance Director of Rathbones for nearly a decade and has played an integral role in the significant growth of the business during that time. The new role of RIM Managing Director will sit alongside the roles of Group CEO and Group Finance Director on the board of Rathbones, increasing the total number of Executive Directors on the board from two to three.
As at 31 December 2017, Rathbones had £39.1 billion of funds under management of which £33.8 billion was managed by RIM. In his newly appointed role, Paul will oversee the day-to-day running of RIM, working closely with the RIM General Manager team to develop the business. Mike Webb will remain in his role as CEO of Rathbone Unit Trust Management ("RUTM") which reported £5.3 billion of funds under management at 31 December 2017.
Philip Howell, Chief Executive of Rathbones, said:
"The considerable growth in the RIM business in recent years has also brought increasing complexity, so the Board and I felt that it was an appropriate time to create this additional role to strengthen the executive team as the business continues to grow.
"Paul has made a huge contribution to Rathbones as Group Finance Director and we believe this new role will benefit greatly from his knowledge of both the business and the external market."
Paul Stockton, Finance Director of Rathbones, said:
"In my 10 years at Rathbones, I have learned a great deal, and I very much look forward to continuing to work closely with Philip and supporting our very talented investment teams as we continue to deliver a quality service to our clients."
1 May 2018
For further information contact:
Rathbone Brothers Plc | Camarco |
Rathbone Brothers Plc
Rathbone Brothers Plc ("Rathbones"), through its subsidiaries, is a leading provider of high-quality, personalised investment and wealth management services for private clients, charities and trustees. Our services include discretionary investment management, unit trusts, banking and loan services, financial planning, unitised portfolio services, and UK trust, legal, estate and tax advice.
Rathbones has over 1,100 staff in 15 UK locations and Jersey; its headquarters is 8 Finsbury Circus, London.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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
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