Record Regulatory News (REC)

5 Jan 2010 13:11



5 January 2010

Record plc ('Record' or the 'Company')

Board Changes

Jeremy Palmer resignation as Non-Executive Director

Record, the specialist currency investment manager, today announces that, for personal reasons, Jeremy Palmer has resigned as a Non-executive Director with immediate effect. 

ENDS

Enquiries:

Hogarth Partnership +44 (0)20 7357 9477

Julian Walker, Nick Denton, Vicky Watkins

  Notes to Editors

Record plc

Record is a specialist currency investment manager and provider of currency hedging services for institutional clients. Founded in 1983, Record has established a market leading position as a currency asset manager. Specifically, the Group has a leading position in managing currency for Absolute Return for institutional clients.

The Group has three principal product lines:

currency for Absolute Return, in which Record enters into currency contracts for clients with the objective of generating positive returns;

active hedging, where Record seeks to eliminate the impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies when these movements are expected to result in an economic loss to the client, but not to do so when they are expected to result in an economic gain; and

passive hedging, where Record seeks to eliminate fully the economic impact of currency movements on elements of clients' investment portfolios that are denominated in foreign currencies.

Record (LSE: REC) was admitted to trading on the London Stock Exchange on 3rd December 2007.