RIV.L Regulatory News (RIV)

7 November 2019

LEI:2138005C7REHURGWHW31

Directorate Change

River and Mercantile Group PLC (the Group) today announced that Kevin Hayes, the Group's Chief Financial Officer, has confirmed his intention to retire from the Group in the next six months. Kevin joined the Group prior to the IPO in February 2014 and alongside his CFO role has been the Global Head of Solutions over the last 12 months. Kevin will be returning to the USA where his family reside and will be taking up a new role outside of the asset management sector.

Kevin will remain on the Board until the AGM on the 9th December 2019, however following his decision to retire, he will not now stand for re-election as a Director at the AGM. The Group has been extremely fortunate to have had the benefit of a CFO of Kevin's experience over the last five years and he leaves the business in a robust financial position, with strong corporate disciplines and the entrepreneurial spirit embedded deeply within the organisation.

The Group has identified a strong prospective CFO and can confirm that subject to the agreement of terms an announcement will be made in due course.

James Barham, Group Chief Executive of River and Mercantile Group PLC said:

"Kevin has become a close friend and colleague over the last five years, and I, along with the rest of the business, have benefitted from his experience, knowledge and wisdom garnered over many years across the investment industry. I understand his reasons for leaving and his desire to be close to his family. He has an interesting and exciting opportunity facing him in his new role and we all wish him enormous success in this new stage of his career.

We have grown the business strongly since the IPO, with our asset base increasing by an 18% CAGR over the last five years. As I stated in the annual report, we are looking to augment this organic growth with appropriate and suitable acquisitions that helps us accelerate along existing lines."

Kevin Hayes said:

"The Group has made significant progress over the last five years since the IPO and I have enjoyed my time immensely working with James and Mike and the rest of the team at R&M. This has been a very tough decision for me to make, however my family is now predominantly based in the USA and I felt that at this time in my life it is right to be close to them, alongside the interesting opportunity that I have been offered away from the asset management space.

River and Mercantile is a unique business, rich with intellectual capital and innovative thought. We have delivered exceptional returns for our clients through the cycle and I leave the business in James's strong and capable hands."

Jonathan Dawson, Chairman River and Mercantile Group PLC said:

"Kevin has played an important role in the development of the Group over the last five years. His knowledge and experience were critical during the IPO and he has been a valued member of the Board since. We all wish him the very best for his return to the USA with all of our thanks and good wishes"

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

This announcement includes inside information.

Notes

River and Mercantile Group PLC - background

River and Mercantile Group PLC (the Group) is an investment solutions business with a broad range of services, from consulting and advisory, to fully delegated fiduciary management and asset management.

The Group was formed in 2014, following the merger of investment consultant and fiduciary management specialist P-Solve with UK and global equity manager River and Mercantile Asset Management. These businesses were created and headed by Mike Faulkner and James Barham respectively.

The Group had over £41bn of AUM/NUM as at 30 September 2019.

Contact

James Barham, Group Chief Executive

020 7601 6262