Last checked at 1 Feb 2010 07:00
News release
1 February 2010
Merchant Securities plc
("Company" or "the Group")
Appointment of Head of Corporate Finance
Merchant Securities plc, the financial services group specialising in institutional sales, research and trading, private client broking and investment management, corporate finance and corporate broking, announces that John East, after 23 years as executive chairman of John East & Partners Limited and, more recently, as head of corporate finance at Merchant John East Securities Limited ("MJES") will step down from this role on 31 March 2010.
Simon Clements, who joined John East & Partners Limited in 2000 and was a director from 2004 until November 2009, will join the board of MJES, a wholly owned subsidiary of the Company, and become head of corporate finance at that time.
John East will remain a director of the Company, deputy chief executive of MJES and chairman of the corporate finance division.
Patrick Claridge, Chief Executive, Merchant Securities plc, says:
"I would like to thank John for his invaluable contribution in growing the Group's corporate finance division and navigating the business throughout the last 23 years.
"John's continued role within the Group and MJES ensures that we will benefit from his experience. In Simon we have an experienced individual who is capable of leading the corporate finance division through the next chapter of its growth."
For further information please contact:
| Merchant Securities plc Patrick Claridge, Chief Executive John East, Executive Director | 020 7375 9010 020 7628 2200 |
| Arden Partners plc Richard Day/Matthew Armitt | 020 7614 5917 |
| Broadgate Mainland Roland Cross/Elizabeth Hannaway | 020 7726 6111 |
Further information on Simon Clements:
Simon Clements, aged 36, graduated from Hull University with a degree in Accounting in 1994 and qualified as a chartered accountant with Horwath Clark Whitehill in 1998, where he also worked in the corporate finance department. Since 2000 when he joined John East & Partners Limited, now MJES, he has been actively involved in and led a significant number of new issues, reverse takeovers, City Code transactions and acquisitions and disposals. He is a Qualified Executive for the purposes of the AIM Rules for Nominated Advisers and a Member of the Chartered Institute for Securities & Investment.