River and Mercantile Group PLC Executive Director appointment and trading update (6584Z)
25 May 2021 - 4:00PM
UK Regulatory
TIDMRIV
RNS Number : 6584Z
River and Mercantile Group PLC
25 May 2021
25 May 2021
LEI: 2138005C7REHURGWHW31
Appointment of Executive Director and Update on Trading
River & Mercantile Group (RMG) announces the appointment of
Alex Hoctor-Duncan, Global Head of Aberdeen Standard Investments,
to the board as an Executive Director, responsible for Strategic
Development. The appointment is expected to take effect later this
year following the conclusion of his contractual
responsibilities.
James Barham, Group CEO of River and Mercantile said: "I am very
excited that Alex will be joining us. He has a long, proven track
record in the industry and will bring a perspective to our
strategic development that will fit in well with our ambitions to
take River and Mercantile forward to the next stage. The momentum
within the business is noticeable as the investment we made in
distribution and in new investment teams make an impact in
particular in our Solutions and Wholesale businesses. I look
forward to welcoming Alex to the Board."
Jonathan Dawson, RMG's Chairman, said "We are delighted to
appoint Alex to the board. He has had an outstanding 25 year career
in the asset management industry, mainly at BlackRock and its
precursor companies in the UK, and most recently in his current
role as Global Head of Aberdeen Standard Investments where he was
responsible for its strategy and growth plan. He will provide a
significant boost to our Group enabling us to advance our ambitious
growth strategy."
Alex Hoctor-Duncan said: "I am enormously excited to be joining
River and Mercantile to focus on developing its strategy and future
growth. I was attracted by the developing opportunities for the
Group in terms of building further on the highly regarded Solutions
business and the internationally recognised team in RAMAM."
The Group continues to trade in line with expectations. It has
seen additional Fiduciary and Derivative success and since the
beginning of the calendar year has now won GBP3bn of new mandates
with IMA's under negotiation. Alongside this the Group is seeing a
strong recovery in the wholesale business which in combination with
the Fiduciary and Derivative wins, positions the business well for
FY2022.
River and Mercantile Group PLC makes this announcement in
accordance with LR9.6.11R. Mr Hoctor-Duncan's date of appointment
will be announced once certain, in accordance with LR9.6.12R.
Further biographical details of Mr Hoctor-Duncan's career will be
announced subsequently by the Company in accordance with LR
9.6.13R.
Contacts:
Montfort Communications +44 (0)7798 626282
Gay Collins riverandmercantile@montfort.london
Numis Securities +44(0)207 260 1000
Charlie Farquhar c.farquhar@numis.com
Jefferies +44(0)207 0298211
Paul Nicholls Paul.nicholls@jefferies.com
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END
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