MIL.L Regulatory News (MIL)

12 Jul 2005 07:30

Millfield Group PLC12 July 2005 Date: 12 July 2005 On behalf of Millfield Group plc: PRESS RELEASE: New Finance Director for Millfield Millfield Group plc today announces that Arthur Milton has joined the Group asits new Finance Director. He takes over from Harry Roome who has been theGroup's Finance Director since 2000. Mr Milton, age 53, is a Chartered Accountant and has extensive experience in theFinancial Services sector, including Finance Director roles in GE Capital and asFinance Director and CEO of Toplis and Harding plc. Since 1996 he has performeda number of interim manager roles including Associate Director with the CredoGroup of Corporate Strategy Consultants, non-executive director for ITC ClassicFinance (India), Interim UK Finance Director of Threadneedle Asset Management ,Interim Finance Director of Bluecycle.com (Norwich Union), Interim EuropeanFinance Director of BNP Paribas Securities Services and Interim Finance Directorof St Paul Travelers Insurance Group (UK London Market Operations). Paul Tebbutt, Chief Executive of Millfield, commented: "Harry has done a greatjob over the last 4 1/2 years. He has now decided to take a career break. I wouldlike to thank him for all his help, and welcome Arthur Milton as Interim FinanceDirector, who will take the company to its next stage of development by focusingon, improving profitability and services to our advisers / firms. Harry will beeffecting a smooth handover throughout July, August & September." Richard Mansell-Jones, Chairman of Millfield, said: "I would add my thanks forHarry's contribution, which has been significant. Arthur's very wide experienceand array of skills represent an outstanding opportunity for Millfield, and Ihave no doubt that he will play a major role in our future development." Harry Roome, former Finance Director of Millfield, said: "I joined Millfield 4 1/2 years ago when annual turnover was £10 million to support the transformation of the business. Since then we have floated the company on AIM, delivered 4 years of growth, merged with Inter-Alliance and completed the integration of the businesses. The result is a substantial distribution business which has critical mass with turnover of around £120 million and is exceptionally well positioned to prosper in today's market. Millfield now moves to a new phase in its development and it is time for me to move on. Millfield has great potential and I wish the company well for the future." Millfield will announce its Preliminary results during August 2005. The resultsare expected to be in line with market expectations. For more information, contact: Paul Tebbutt at Millfield on 020 8604 2607 Harry Roome at Millfield on 020 8604 2623 Mark Llewellyn-Slade at Llewellyn-Slade PR on 01444 242792 NOTES TO EDITORS Millfield Group plc acquired Inter-Alliance Group Plc in October 2004 to formthe new merged Group. It is one of the largest independent financial advisoryorganisations in the UK with 1600 advisers. This information is provided by RNS The company news service from the London Stock Exchange