Record Share News (REC)

(Sharecast News) - Record announced a series of board and senior management changes on Wednesday, as the specialist currency and asset manager transitioned towards a more diversified institutional asset management model.

Dr Othman Boukrami was appointed an executive director of the group's regulated subsidiary, Record Currency Management, having stepped down from his role as a non-executive director on the main board.

The London-listed company said Boukrami was bringing decades of experience in emerging and frontier market currencies.

Nick Adams would meanwhile join the board as a non-executive director with effect from 1 January, succeeding Boukrami.

Adams would also sit on the audit, remuneration and nomination committees.

He was previously global head of institutional at Janus Henderson Investors, having earlier served as head of EMEA institutional and head of consultant relations.

"I am delighted to be joining the board," Adams said.

"I believe my background and experience are a great fit for Record and I look forward to contributing to the strategic growth plans of the company."

Separately, chief financial officer Richard Heading would step down at the end of the financial year on 31 March 2026.

He would remain in post until then to support the search for a successor and ensure an orderly handover.

"This has been a difficult decision, but I have decided it is time for me to try something new," Heading said.

"There are fantastic people at Record with whom I have very much enjoyed working, and I wish them every success in the future."

Chief of staff Kevin Ayles would also stand down from the board with effect from 31 March for personal reasons, but would continue as a senior executive in his current role, with certain responsibilities redistributed to allow for a reduced working pattern.

David Morrison, chairman of Record, said the company was transitioning "from being a currency manager alone to a more diverse asset manager providing a range of services to institutional investors."

"I am delighted to welcome Nick Adams as a non-executive director," he added.

"We will benefit from his knowledge and experience."

Morrison also said Ayles had "played an important role in Record for many years" and thanked Heading for his contribution to the business.

At 0939 GMT, shares in Record were up 0.76% at 54.21p.

Reporting by Josh White for Sharecast.com.