19 May 2015 07:00
19 May 2015
LOMBARD RISK MANAGEMENT plc("Lombard Risk" or the "Company")
Board Change
Lombard Risk Management plc announces that Mr John Wisbey has informed the Board of his intention to stand down as Chief Executive and director of the Company with immediate effect in order to pursue other opportunities. The Company's Non Executive Chairman Mr Philip Crawford will become the full time Executive Chairman on an interim basis until such time that the Board is in a position to appoint a new Chief Executive.
John Wisbey founded the Company in 1989 since when the business has grown to become a global provider of leading risk management and regulatory compliance solutions to around 300 of the world's leading banks and financial institutions. The Board recognises the significant contribution of Mr Wisbey to the success of Lombard Risk which has included: the organic growth of the Company's OBERON and COLLINE products; the IPO of the Company's then subsidiary IDOX plc in 2000 as well as the Company's own IPO in 2004; and the Company's acquisitions in the regulatory space in 2005 and 2011 which together have made it the market leader in UK bank regulatory reporting and US foreign bank regulatory reporting through its REPORTER and REG-Reporter products. The Board wishes to thank John for his considerable effort and commitment over the last 25 years. He remains a significant shareholder in the Company with an interest in over 38% of the Company's share capital and he has indicated that he has no immediate intention of reducing his holding.
The Company will announce its results for the year to 31 March 2015 on Thursday 21 May and these results are expected to be in line with the statement released on 11 March 2015. Trading in the current year remains satisfactory.
Enquiries
Philip CrawfordChairman Nigel GurneyFinance Director | Russell CookCharles Stanley Securities Nominated Adviser and Broker | David BickSquare 1 Consulting
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Tel: 020 7593 6700 | Tel: 020 7149 6000 | Tel: 020 7929 5599 |