RIV.L Regulatory News (RIV)

25 May 2021

LEI: 2138005C7REHURGWHW31

Appointment of Executive Director and Update on Trading

River & Mercantile Group (RMG) announces the appointment of Alex Hoctor-Duncan, Global Head of Aberdeen Standard Investments, to the board as an Executive Director, responsible for Strategic Development. The appointment is expected to take effect later this year following the conclusion of his contractual responsibilities. 

James Barham, Group CEO of River and Mercantile said: "I am very excited that Alex will be joining us. He has a long, proven track record in the industry and will bring a perspective to our strategic development that will fit in well with our ambitions to take River and Mercantile forward to the next stage. The momentum within the business is noticeable as the investment we made in distribution and in new investment teams make an impact in particular in our Solutions and Wholesale businesses. I look forward to welcoming Alex to the Board."

Jonathan Dawson, RMG's Chairman, said "We are delighted to appoint Alex to the board. He has had an outstanding 25 year career in the asset management industry, mainly at BlackRock and its precursor companies in the UK, and most recently in his current role as Global Head of Aberdeen Standard Investments where he was responsible for its strategy and growth plan. He will provide a significant boost to our Group enabling us to advance our ambitious growth strategy."

Alex Hoctor-Duncan said: "I am enormously excited to be joining River and Mercantile to focus on developing its strategy and future growth. I was attracted by the developing opportunities for the Group in terms of building further on the highly regarded Solutions business and the internationally recognised team in RAMAM."

The Group continues to trade in line with expectations. It has seen additional Fiduciary and Derivative success and since the beginning of the calendar year has now won £3bn of new mandates with IMA's under negotiation. Alongside this the Group is seeing a strong recovery in the wholesale business which in combination with the Fiduciary and Derivative wins, positions the business well for FY2022.

River and Mercantile Group PLC makes this announcement in accordance with LR9.6.11R. Mr Hoctor-Duncan's date of appointment will be announced once certain, in accordance with LR9.6.12R. Further biographical details of Mr Hoctor-Duncan's career will be announced subsequently by the Company in accordance with LR 9.6.13R.

Contacts: