Last checked at 21 Aug 2015 07:00
21 August 2015
CITY OF LONDON INVESTMENT GROUP PLC
("City of London" or "the Group")
BOARD CHANGES
The Board of City of London Investment Group ("CLIG") announces the resignation of the Business Development Director, Carlos Yuste, from the boards of both CLIG and City of London Investment Management, to take effect as of 31st December 2015.
The Board also announces that at the forthcoming AGM, shareholder approval will be sought for the appointments to the Board of Mark Dwyer as CIO responsible for the emerging markets closed-end fund business and Tracy Rodrigues as Finance Director.
Barry Olliff, CEO, commented: "This is a great disappointment as Carlos has been with CLIG for fifteen years and has overseen significant growth in funds under management at the firm. He has been an excellent person to work with, but Carlos has decided for personal reasons that the time is right to move on. Carlos's responsibilities will be re-allocated internally thus there will be no need for an additional appointment."
David Cardale, Chairman, added: "As foreshadowed in our Interim Report in January 2014, Mark has been progressively taking over responsibility as CIO for our emerging markets closed-end fund business which currently represents the majority of our funds under management and it is therefore entirely appropriate that he is represented on our board. Since the departure of our previous Finance Director in April 2013, Tracy has assumed those responsibilities and her appointment to the Board will formalise that position. I very much welcome these two appointments which will greatly strengthen the CLIG board."
For further information, please visit http://www.citlon.co.uk/ or contact:
Barry Olliff, CEO
City of London Investment Group PLC
Tel: 001 215 313 3774
Roger Lambert
Canaccord Genuity Limited
Financial Adviser & Broker
Tel: +44 (0)20 7523 8000