4 Apr 2017 07:00
4 April 2017
StatPro Group PLC
Rory Curran to succeed Carl Bacon as Chairman
StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has been notified by Carl Bacon, non-executive Chairman, that he plans to step down and leave the Group on 29 November 2017. He will therefore not seek re-election at the forthcoming AGM.
Rory Curran, currently a non-executive director, will succeed Carl.
Carl Bacon, non-executive Chairman, commented:
"After 17 years as Chairman, the time is now appropriate to step down. StatPro has truly been a career highlight for me and I leave with a feeling of achievement with all that has been done since the business listed in May 2000.
"The Board is well-established and performing well. Our flagship product, StatPro Revolution Performance, was released in September 2016. The risk we took in transitioning the business from its traditional software platform is receding and the foundations have been laid from our significant investment in cloud technology to benefit the Group in the future.
"I am delighted to pass the torch to Rory to lead the business in this exciting period of growth."
Justin Wheatley, Group CEO, commented:
"On behalf of the Board and the whole of StatPro, I would like to thank Carl profoundly for his huge contribution over these last 17 years.
"As Chairman, he helped frame our ideas and strategy to keep us closely in line with industry trends. He is the guru of performance measurement in the asset management industry.
"Having revolutionised our technology and product line under Carl's tenure, we are in an excellent strategic position in the increasingly technology-dependent asset management sector.
"We wish him well for the future."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)
Enquiries:
StatPro Group plc |
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Carl Bacon, Chairman |
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Panmure Gordon - Nomad and Broker |
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Corporate Finance - Freddy Crossley / Fabien Holler |
| +44 (0) 20 7886 2500 |
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Corporate Broking - Tom Salvesen |
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Instinctif Partners |
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Adrian Duffield / Chris Birt |
| +44 (0) 20 7457 2020 |
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About StatPro
StatPro is a global provider of award winning portfolio analytics solutions for the investment community. The Group's cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance. This multi-asset class analytics platform helps StatPro's clients increase assets under management, improve client service, meet tough regulations and reduce costs.
The Group's integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.
StatPro has grown its Annualized Recurring Revenue from less than £1 million in 1999 to around £39 million at the end of December 2016. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 36 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.