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29 Sep 2009 14:38
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29 September 2009Β
Record plc ('Record' or the 'Company')
Board Changes
David Morrison and Jeremy Palmer appointed as Non-Executive Directors
Record, the specialist currency investment manager, today announces theΒ appointment of DavidΒ Morrison and Jeremy Palmer as Non-executive DirectorsΒ with effect from 1Β October 2009.Β
David MorrisonΒ is Founder and Chief Executive of Prospect Investment Management, a venture capital advisory firm established in 1999,Β which actsΒ on behalf of a small group of investors. He has spent most of his working career in the venture capital world, having started with 3i plc, which was followed byΒ 13 years with Abingworth Management Limited. He has previously been a director ofΒ Bluetooth Holdings plc,Β Deutsche Equity Income Trust plc,Β GW Pharmaceuticals plcΒ and Venture Production plcΒ andΒ is currently on the Board of PayPoint plc and severalΒ privateΒ companiesΒ with which Prospect is associated.Β David served as a Non-Executive Director of N P RecordΒ plcΒ between 1987 and 1996.Β
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Jeremy Palmer has worked in financial services for over 25 years, holding senior management positions in private banking and investment banking in both Asia andΒ Europe. He has worked for Salomon Brothers, JP Morgan, Barings, and UBS. His last position at UBS was CEO, UBS Investment Bank, Europe, Middle East andΒ Africa. He left the City at the end of 2008 and is now a partner in anΒ investment firm. He serves on the board of several schools and other charities.
Neil Record, Chairman and Chief Executive of Record, commented: "DavidΒ brings particular expertise inΒ the management ofΒ generational change in growing businesses,Β and JeremyΒ has wide experience in the banking and wealth managementΒ worlds. Both will bring valuableΒ experience and good judgementΒ to our business. I am delighted toΒ welcome themΒ to theΒ Board,Β and IΒ very muchΒ look forward to working with them."
There are no other disclosures required under Listing Rule 9.6.13.
ENDS
Enquiries:
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Record plcΒ |
+44 (0)1753 852222 |
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Neil Record, Chairman and Chief Executive |
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Paul Sheriff, Chief Financial Officer |
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Hogarth Partnership |
+44 (0)20 7357 9477 |
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Julian Walker, Nick Denton, Vicky Watkins |
Β Β 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 3rdΒ December 2007.
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