15 Mar 2010 15:35
LOMBARD RISK MANAGEMENT
Board Changes
London, 15th March 2010
Lombard Risk Management plc, ("Lombard Risk" or the "Company"), the global provider of specialised software solutions that improve the management of collateralised trading, liquidity and regulatory compliance, announces the following board changes.
Board changes
It was announced in September 2009 that the roles of John Wisbey, Chairman and Chief Executive Officer, would be split. It has now been agreed that John will retain the role of Chairman and will have specific responsibility for identifying product and market opportunities and play a leading role in further developing relationships with external parties including major clients, regulators and industry bodies.
Keith Butcher, currently Finance Director, is to be appointed Chief Executive Officer as of the 15 March 2010. Keith will remain as interim Finance Director of Lombard Risk until a suitable candidate is agreed by the Board.
The Board is delighted that Keith has accepted the role of CEO. He brings considerable experience in the software and technology sectors, through his time with two AIM listed companies; DataCash Group plc and Flomerics Group plc. At DataCash, Keith was part of the team that grew the business from a market capitalisation of £8m to £300m between 2002 and 2007. At Flomerics, Keith was part of the team that negotiated the successful sale of the company to a large NASDAQ listed business in 2008.
Along with a new Finance Director, the Company also intends to strengthen its Board by appointing at least one additional Non-Executive Director. A further announcement will be made as and when appropriate.
Commenting on the Board changes, John Wisbey said, 'This split of roles will allow me as Chairman more time to ensure that we are capitalizing on the market opportunities created by the rapid changes in the risk management and regulatory arenas and to focus on external relationships, while Keith's first-class track record will ensure that the current opportunities are fully exploited'.
Keith Butcher said, 'I am excited by the prospects for the company and look forward to working with John in taking the Company to the next level'.
-ends-
For further information please contact:
Lombard Risk Management plc
John Wisbey, Chairman
john.wisbey@lombardrisk.com
Tel: 020 7089 3700
Keith Butcher, CEO and Interim Finance Director
keith.butcher@lombardrisk.com
Execution Noble & Company Limited
John Llewellyn-Lloyd
john.llewellyn-lloyd@execution-noble.com
Sam Reynolds
sam.reynolds@execution-noble.com
Tel: 020 7456 9191
City Profile
Simon Courtenay
Tel: 020 7448 3244
simon.courtenay@city-profile.com