Last checked at 10 Nov 2008 07:00
10 November 2008
Merchant Securities plc ("Merchant Securities" or "the Company")
Appointment of chief financial officer
Merchant Securities, the financial services group specialising in institutional and private client stockbroking, corporate finance, corporate broking and private equity, is pleased to announce that John Sidney Hardcastle Foster-Powell, aged 49, has been appointed a director of the Company with effect from 10 November 2008 and will become chief financial officer of the Merchant Securities group of companies on that date. He has been the group interim financial controller of the Company since 8 August 2008.
John has over 25 years' experience in the financial services industry, where he has held various positions in finance with increasing managerial responsibilities. He has also been a consultant in the financial services area for a number of years.
John is a fellow of the Chartered Association of Certified Accountants, a member of the Chartered Institute of Bankers and an associate member of the Association of Corporate Treasurers. He has extensive experience in financial services including IFRS and compliance requirements.
His previous directorships in the past 5 years were at United Trust Corporation PLC and Equity Trustees (UK) Limited a subsidiary of the Insinger Group. He currently holds 500,000 ordinary shares of 1p each in the Company, equivalent to approximately 1.06 per cent. of the Company's issued ordinary share capital. There are no other matters which are required to be disclosed in accordance with Rule 17 and Schedule 2 of the AIM Rules.
Patrick Claridge, Chief Executive of Merchant Securities, commented: "John brings a broad finance, accounting and administrative management experience to our executive management team. His diverse experience base and proven performance track record further strengthens this key area of the Company's activities. With Merchant Securities' growth strategy and expanding broad client base, John will add valuable input and we welcome him onto the executive team."
For further information please contact:
Merchant Securities plc
Patrick Claridge, Chief Executive 020 7375 9022
Arden Partners plc
Richard Day / Matthew Armitt 020 7398 1630
Broadgate
Roland Cross 020 7726 6111