IFG Group PLC Announcement of New Leadership Team (2404L)
April 18 2018 - 1:00AM
UK Regulatory
TIDMIFP
RNS Number : 2404L
IFG Group PLC
18 April 2018
IFG Group plc ("IFG" or the "Group")
Announcement of New Leadership Team
18th April 2018
This announcement contains inside information.
The Board of IFG (the "Board") announces a new Group leadership
team. Over the last three years, the composition of the Group has
shifted significantly following its successful exit from its non-UK
operations to focus on the attractive and growing UK wealth
management and intermediary platform markets. In the light of this
evolution, the Board believes now is the appropriate time for new
leadership to take the business forward.
Group Chief Executive
IFG announces that John Cotter has decided to step down as Group
Chief Executive and is pleased to announce that Kathryn Purves, a
non-executive director of the Group and chair of the Group Risk
Committee, will succeed Mr Cotter as Group Chief Executive
immediately.
Ms Purves joined the Board in May 2016. Ms Purves was previously
Chief Risk Officer of Partnership Assurance and has more than
twenty years of senior leadership experience in financial services
companies including Partnership Assurance, Phoenix Equity Partners,
Deutsche Bank and UBS. Ms Purves is currently a non-executive
director of Intermediate Capital Group plc.
Group Chairman
IFG also announces that John Gallagher has decided to step down
as Group Chairman following the Annual General Meeting in May 2018
at which point Mark Dearsley, currently acting as the Group's
Interim Chief Financial Officer, will succeed him. In the meantime,
Mr Dearsley will relinquish his interim executive role to take on
the role of Deputy Group Chairman. Mr Gallagher has reaffirmed his
intention to maintain his major shareholding in the Group.
Mr Dearsley is a Chartered Accountant with extensive board level
experience in the financial services sector, including serving as
Managing Director - International of Partnership Assurance, Group
Finance Director of Partnership Assurance, Group Chief Financial
Officer for Savills plc, Group M&A Director and Finance
Director of Aviva Europe & International, the international
division of Aviva PLC. Prior to joining IFG, he was Group Strategy
Director for Just Group plc.
Interim Group Chief Financial Officer
IFG is also announcing the appointment of Gavin Howard as
Interim Group Chief Financial Officer with immediate effect. Mr
Howard is an experienced financial services executive and qualified
actuary with over twenty years of experience, including as CFO and
Finance Director, in financial services companies including Octopus
Group, Just Group plc, Partnership Assurance, Barclays and Friends
Provident.
Commenting, John Gallagher, Group Chairman, said "I would like
to thank John Cotter for his important contribution to the Group in
a number of roles over the past four years. The Group has been
repositioned significantly over this period resulting in a more
streamlined structure with two very strong and well positioned
businesses. Looking ahead, we are extremely fortunate to have
already amongst our ranks a successor of Kathryn's calibre. Given
the strong prospects for the Group, I remain fully committed to IFG
as a shareholder."
New Group Chief Executive, Kathryn Purves, added "Firstly, I
would like to record my thanks, on behalf of my board colleagues,
to John Gallagher for his leadership and counsel as our Chairman
for the last 5 years. His continuing support as a major shareholder
matches my own belief in the excellent prospects of IFG going
forward. I now look forward to working closely with Mark and Gavin
and the leadership teams of Saunderson House and James Hay to
maximise each business's potential and create the conditions in
which they, and the Group overall, are best placed to flourish and
deliver further value to shareholders."
No further information is required to be disclosed pursuant to
LR 6.6.7.
Enquiries:
IFG
Kathryn Purves Group CEO Tel: +44 203 887 6181
Gavin Howard Interim Group CFO Tel: +44 203 887 6181
Joint Corporate Brokers
Nicholas Harland Macquarie Capital (Europe) Ltd
Tel: +44 203 037 2369
Charlotte Craigie Goodbody Stockbrokers UC
Tel: +44 203 841 6202
Notes to the Editors:
Following Kathryn Purves' appointment as Chief Executive
Officer, Ms Purves will not Chair the Group Risk Committee and will
not be a member of the Group Risk, Audit, Finance or Disclosure
Committees.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAGGUWPCUPRGMM
(END) Dow Jones Newswires
April 18, 2018 02:00 ET (06:00 GMT)
Ifg (LSE:IFP)
Historical Stock Chart
From Apr 2024 to May 2024
Ifg (LSE:IFP)
Historical Stock Chart
From May 2023 to May 2024