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19 Aug 2009 07:00
LOMBARD RISK MANAGEMENT PLC APPOINTS
NEW FINANCE DIRECTOR
Lombard Risk, the second largest global provider of specialised software solutions that improves the management of collateralised trading and regulatory compliance, announces the appointment of Keith Butcher as Finance Director from 1 September 2009. Keith, aged 46, was previously Finance Director and Company Secretary of Flomerics Group plc and before that Finance Director of DataCash Group plc, both AIM listed technology businesses.
Keith will replace Jane Fineman who will be stepping down from the position of Chief Financial Officer and leaving the company in late September to pursue other interests.
John Wisbey, Chief Executive of Lombard Risk Management commented,
We are delighted that Keith will be joining us as Finance Director. He brings considerable experience as a Finance Director in the software and technology sectors, through his time with two AIM listed companies; DataCash Group plc and Flomerics Group plc. I am confident that he will bring a fresh and strategic perspective to the Group as our Finance Director.
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 his most recent employer, Flomerics, Keith was part of the team that negotiated the successful sale of the company to a large NASDAQ listed business in 2008 for close to triple the market capitalisation prior to the deal.
Lombard Risk is entering an exciting period in its development. The move away from light touch regulation, beginning with a tighter regime for Liquidity Reporting, means that financial institutions and banks will have to increase their spend in the regulatory area. There is also a much greater emphasis in banks on improving their ability to manage counterparty credit risk, and collateral management is one of the areas where banks are overhauling their systems as a result. These are our fields of expertise and we are well positioned to take advantage. I am confident that Keith's experience and knowledge will help us in the process of realising our full potential and that he will play a key role in our growth.
We are grateful to Jane Fineman, the outgoing Chief Financial Officer, for her contribution over the past two years. In line with the Company's expansion plans, a full time Finance Director is now required and Jane could not offer us that at this point. The entire Board wishes her the very best for the future.
Save for the information disclosed above there is no other information that is required to be disclosed under Schedule 2(g) of the AIM Rules.
-ends-
Date: 19 August 2009
For further information please contact:
Lombard Risk Management plc
John Wisbey, Chairman and Chief Executive
Tel: 020-7089-3700
Web: www.lombardrisk.com
Noble & Company (Nomad)
Brian Stockbridge
Tel: 020-7763-2200
City Profile
William Attwell
Tel: 020-7448-3244
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