RIV.L Regulatory News (RIV)

RNS Announcement

24 June 2019

LEI: 2138005C7REHURGWHW31

River and Mercantile Group PLC announces changes to senior management team

River and Mercantile Group PLC (the "Company" or together with its subsidiary undertakings "the Group") announces that James Barham will be appointed as Chief Executive Officer (CEO) with effect from Monday 1 July 2019.

James Barham, currently the Company's Deputy CEO and a Director, takes on the position from Mike Faulkner in line with the Group's established succession plan, following a decision by Mike to focus on the management and development of the Group's innovative range of macro strategies. Mike will remain on the Board as an Executive Director and become the Group's Head of Macro Strategies and Innovation.

Mike Faulkner said:

"The Group has made significant progress over the last five years in the development of its service offerings. Within this, I believe strongly that the opportunities our macro strategies represent for our business to grow will require me to be solely focused on developing and managing these along with new investment strategies to meet our clients' investment needs. James and I have worked together for many years growing the business to the successful franchise it is today, and I know he is best placed to take on the role of Group CEO from me. We will continue to work closely together in growing the business as we have always done."

Speaking of his appointment to CEO, James Barham said:

"It is a great honour to take on the CEO mantle from Mike. Aside from a long-term friendship, we have always been indistinguishably aligned in terms of our ambitions for River and Mercantile and share an equal passion for its continued growth and development. Alongside the Executive team, we will continue to drive the business forward as part of our ambition to provide best-in-class outcome-led solutions for our clients. With my focus on the overall business strategy, Mike will now be able to dedicate his time to ensuring our strong investment performance continues in key strategies for the Group's growth." 

River and Mercantile Group Chairman, Jonathan Dawson, commented:

"I am delighted that James has accepted the position as CEO which will provide Mike the time to focus on driving forward our investment thinking for the benefit of our clients and to support the future growth of River and Mercantile. This appointment reflects a continuation of the business logic that both Mike and James shared leading to the original formation of the Group in 2014."

Current Trading

The Group continues to trade in line with market expectations.

River and Mercantile Group PLC makes this announcement in accordance with LR9.6.11R.

Additional Information

James Barham Biographic Information

James Barham completed his education at the Royal Military Academy Sandhurst and, following service in the British Army with the Royal Welch Fusiliers, joined Shandwick Consultants in 1989. He subsequently joined James Capel in 1991 and in 1995 was part of the team that founded and successfully floated Liontrust Asset Management PLC, where he established and managed the institutional business. James joined Intermediate Capital Group in 2004 as Sales and Marketing Director, leaving to found River and Mercantile Asset Management LLP in 2006.

For further information please contact:

Sally Buckmaster

Company Secretary

River and Mercantile Group PLC

+44 (20) 3327 5100

Media contact:

MRM Communications

+44 (20) 3326 9900