Alpha Financial Markets Consulting Regulatory News (AFM)

23 November 2022

Alpha Financial Markets Consulting plc

('Alpha FMC', 'Alpha', the 'Company' or 'Group')

Chief Executive Officer Succession

The Board of Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the asset management, wealth management and insurance industries, announces that Euan Fraser, Chief Executive Officer, has notified the Board of his intention to step down as Chief Executive Officer and from the Board on 31 March 2023. Following this, Euan has agreed to remain with the Group as a Strategic Adviser.

The Board is also very pleased to announce that Luc Baqué, currently Global Head of Asset & Wealth Management Consulting at Alpha, will succeed Euan as Chief Executive Officer with effect from 1 April 2023.

Luc, aged 46, joined Alpha in 2010 to create the Paris Office. He became Head of Europe in 2016 and Global Head of Asset & Wealth Management Consulting in 2020. Luc has more than 20 years of industry experience. Prior to joining Alpha, he spent five years with UBS in Paris as head of change management and six years with Solving International, a strategy management consultancy, specialising in Financial Services. 

Commenting on the Board changes, Ken Fry, Non-Executive Chairman, said:

"Euan has been instrumental in the success of Alpha since he joined the business in 2004 and became Chief Executive Officer in 2013. During that time, the business has expanded into one of the leading global asset and wealth management consultancies. We are therefore very grateful for his strong and effective leadership and are delighted that he has agreed to stay on as a Strategic Adviser.

We are equally delighted to appoint Luc as the new Chief Executive Officer. Since becoming Head of Asset and Wealth Management in 2016, the division has experienced exceptional growth. As a key member of the executive team, he has made a significant contribution to Alpha and the Board is confident that he will continue to drive the business forward in the years ahead."

Euan Fraser, Chief Executive Officer, said:

"It has been a privilege and a pleasure to lead Alpha and to work with such a fantastic team of passionate and committed individuals. I am also extremely grateful for the support I've received from shareholders and from the Board over the years. The business is in great shape and well-placed for continued growth. I am delighted to remain with the Group as a Strategic Adviser and look forward to working with the Board, Luc and the leadership team."

Luc Baqué, Global Head of Asset & Wealth Management Consulting, said:

"It is a privilege to take on the role of Chief Executive Officer at Alpha and to build on the successful strategic development of the Group. With such an outstanding group of employees, I look forward to our continued success, for our clients, employees and shareholders."

Additional disclosures

As at the date of this announcement, Luc Baqué has a beneficial interest in 1,568,929 ordinary shares in the Company. In the last five years, he has been a director of the following companies:

There is nothing further to disclose in relation to the appointment of Luc Baqué under Schedule Two, Paragraph (g) of the AIM Rules for Companies.

Enquiries:

For further information, please contact:

About Alpha FMC:

Headquartered in the UK and quoted on the AIM of the London Stock Exchange, Alpha is a leading global provider of specialist consultancy services to the asset management, wealth management and insurance industries.

Alpha has worked with all of the world's top 20 and 80% of the world's top 50 asset managers by AUM, along with a wide range of other buy-side firms. It has the largest dedicated team in the industry, with over 900 consultants globally, operating from 16 client-facing offices spanning the UK, North America, Europe and APAC. 

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