Board Changes
12 2월 2009 - 6:16PM
UK Regulatory
TIDMCFG
RNS Number : 2103N
Conister Financial Group plc
12 February 2009
FOR IMMEDIATE RELEASE12 February 2009
Conister Financial Group plc (the 'Company')
Board Changes
Conister Financial Group plc ("CFG") today announced that, following the
completion of the strategic review of the business, Arron Banks has stepped down
as Chief Executive of Conister Financial Group plc. He will remain a
Non-Executive Director of the Company.
The following CFG appointments have also been made with immediate effect: Jim
Mellon, formerly Non-Executive Chairman will take the role of Executive
Chairman; Denham Eke will take the role of Chief Executive; and Simon Hull and
David Gibson will join the board as Non-Executive Directors.
Denham was appointed as a Non-Executive Director of the Company in November
2007, having been appointed in September 2007 as a Non-Executive Director of
Conister Trust Limited (formerly Conister Trust Plc). Denham has been actively
involved in a number of key projects for the Group. He began his career in stock
broking before moving into corporate planning for a major UK insurance broker.
Denham is a Director of many years' standing of both public and private
companies involved in the financial services, property, mining and manufacturing
sectors. Simon and David, current Managing Director and Non-Executive Director
respectively of Conister Trust Limited, the wholly owned banking subsidiary
based in the Isle of Man, join the board as Non-Executive Directors. David is
also a Non-Executive Director of TransSend Payments Limited, the wholly owned
CFG subsidiary focussed on pre-paid card operations.
Jim Mellon, Executive Chairman, said:
"I would like to thank Arron for his hard work and dedication to the Group in
what has been difficult period. Denham's previous involvement in key group
initiatives will ensure the transition will be seamless and our history of
working closely together in other enterprises will ensure shareholder value is
prioritised.
"Simon has, since joining from Alliance and Leicester International, as Managing
Director of Conister Trust Limited, energized its development as a private bank
capable of supporting the diverse needs of high net worth individuals both on
and offshore. David has already brought his wealth of banking knowledge and
experience to bear on both our banking and prepaid operations and is well placed
to assist in accelerating the development of this financial services group.
"We have a well capitalized bank with a strong capital adequacy ratio of 17.8%,
and with no legacy exposure to the asset classes which have ravaged other banks.
I am confident the new executive management team is well placed to take
advantage of the opportunities, which exist in the challenging economic
environment. "
Denham Eke, Chief Executive said:
"As a long-term committed Isle of Man resident I am very aware of Conister
Trust's 70 year history, but, at the same time, I am determined to harness the
efforts of a strong new management team for a profitable future."
AIM Disclosures on Simon Hull and David Gibson:
The directorships held by Simon James Hull, 44, in the previous five years are
as follows:
Current Former
Conister Trust Limited Alliance & Leicester International Ltd
Alliance & Leicester International Holdings Ltd
Alliance & Leicester International Fund Plc
Simon Hull has 3,342 Ordinary Shares of 25p each in the Company.
There is no further information to be disclosed under Schedule Two (g) (i)-
(viii) of the AIM Rules for Companies.
The directorships held by David Gibson, 61, in the previous five years are as
follows:
Current Former
Chellbrook Properties Plc None
Conister Trust Limited
Mountstephen Investments Ltd
National Counties Building Society
TransSend Payments Ltd
There is no further information to be disclosed under Schedule Two (g) (i)-
(viii) of the AIM Rules for Companies.
+------------------------------------------+
| For further information, please contact: |
+------------------------------------------+
| Conister Financial Group plc |
| Denham Eke |
| Tel 01624 694694 |
| |
+------------------------------------------+
| Beaumont Cornish Limited |
| Roland Cornish |
| Tel +44 (0) 20 7628 3396 |
| |
+------------------------------------------+
| Britton Financial PR |
| Tim Blackstone |
| Tel 07957 140416 |
| |
+------------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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