3 Dec 2012 07:00
Monday 3 December 2012
City of London Group plc ("COLG")
Appointment of Non-Executive Director
COLG is pleased to announce the appointment of Nigel Sidebottom as a Non- Executive Director with effect from 1 December 2012.
Nigel is currently a director of Premier Fund Managers Limited with responsibility for its closed end and offshore fund operations as well as its private client and high net worth business. He is Deputy Chief Investment Officer, a member of the asset allocation committee, and manager of Premier Enterprise Fund. He therefore brings extensive fund management and investment experience to the Board.
Nigel's career has been in stockbroking and fund management and he is a Fellow of the Chartered Institute for Securities and Investment. He has served as a non-executive director on the boards of several investment companies, most recently as audit committee chairman of JP Morgan Elect plc. He has previously held executive positions with Gerrard Vivian Gray and Greig Middleton stockbrokers.
Henry Lafferty, Chairman, commented:
"We are delighted to welcome Nigel Sidebottom onto the Board. Nigel's expertise in the investment arena will be invaluable as we continue to develop our traditional merchant banking model."
Nigel will be a member of the audit and risk and remuneration committees.
No further information is required to be disclosed pursuant to Listing Rule 9.6.13 of the UK Listing Rules.
Enquiries:
City of London Group plc | +44 (0)20 7628 5518 |
Eric Anstee (CEO) | |
N+1 Singer | +44 (0)20 7496 3000 |
Jonny Franklin-Adams | |
FTI Consulting | +44 (0)20 7269 7132 |
Ed Gascoigne-Pees |
Notes to Editors
City of London Group plc (COLG) is fully listed on the London Stock Exchange plc (LSE symbol CIN).
The Company's strategy is to build a quality Financial Services Group centred on Specialist Financing and Alternative Fund Management. The Company believes there are particular opportunities in the SME and professional services sectors as major national and foreign banks limit new lending to these borrowers. It therefore seeks to identify and exploit product niches and business models in these sectors where they are supported by strong day to day management teams, providing initial equity, working capital and seed funding for those teams.
Since 2009, COLG has developed four specialist financing funds, pledging significant seed funds to Therium Capital Management Limited, a third party Litigation Funder, Credit Asset Management Limited and Professions Funding Limited, which respectively provide asset backed finance to SME's and working capital loans to professional practice firms and finally Trade Finance Partners Limited, a trade finance provider to the SME market.