Charles Taylor Share Price (CTR)

big trade....

Professional services provider Charles Taylor has appointed Tito Soso as its new Group Chief Financial Officer and Executive Director with immediate effect. David Marock, Group Chief Executive of Charles Taylor, said: "We are very pleased to have Tito on board. His breadth of knowledge across different industry sectors and strategic insight will be of immense value as we implement our strategic plan for growth." Soso, who is aged 46, was most recently a Managing Director at Investcorp, which provides and manages alternative investment products. He also held a senior role in corporate finance in the UK and Eastern Europe for a global industrial business.

Charles Taylor, which provides professional services to clients in the global insurance market, has appointed Tito Soso as Interim Group Chief Financial Officer to replace George Fitzsimons, who as previously announced will be stepping down as an Executive Director and as Group Finance Director at the end of October. Soso joined the firm on Monday to ensure a smooth transition. The company is continuing to search for a permanent replacement. Soso, aged 45, was most recently a Managing Director in Investcorp's European Investment team where he was responsible for leading private equity transactions across Europe. In this role he held non-executive director and acting Chief Financial Officer positions in a variety of portfolio companies. David Marock, Group Chief Executive said: "Tito has extensive experience in both permanent and interim senior financial officer roles and we are very pleased to welcome him to the group. "His breadth of knowledge across different industry sectors and strategic insight will be of immense value as we implement our strategic plan for growth. We remain committed to finding a permanent Group Chief Financial Officer to help drive the business forward and will update the market in due course

me too,thankyoo..(rec p.),,,

Charles Taylor is a complex business and management is only starting to realise the benefits of more cross selling and marketing initiatives, so there should be more to come. Likewise the share price - supported by a nice dividend yield - is starting to make progress, but should continue to rise as the recovery story gains credibility.......as always dyor gl all.......

The management services division typically runs insurance services for interest groups that club together. For example, its largest client is The Standard Club, owned by shipowners and formed to insure shipowners, operators and charterers for their liabilities to third parties arising from their operations. So Charles Taylor does the marketing, manages the underwriting and claims and provides regulatory, accounting and administration services. Several new members have been signed up this year, which helped to boost management services operating profits by 44 per cent to £2.6m in the first half. Insurance support services allows clients to select a specific service that they require, be it financial reporting, investment management or alternative risk services. This made a small loss last year, but broke even in the first half thanks to higher demand for outsourced back office insurance services from Lloyd's of London. Net debt rose slightly at the half year-end compared with the end of last year, but was down from a year ago by £4.4m at £34.2m. And last year's first-half net cash outflow of £500,000 has been turned into a £3.6m net inflow.