Last checked at 9 May 2011 07:00
Press Release | 9 May 2011 |
STM Group Plc
("STM" or the "Company")
Appointment of new Chairman
STM Group Plc (AIM:STM), the cross border financial services provider, is pleased to announce that Julian Telling has been appointed to the Board of the Company as the Non-Executive Chairman with immediate effect, replacing Bernard Gallagher, who steps down today.
STM specialises in estate and succession planning and wealth structuring for high net worth individuals and their families ("HNWs"), with STM acting as an international corporate and trustee service provider ("CTSP") through its offices in Gibraltar, Spain, Jersey, Malta and Switzerland. STM's strategy is to grow organically, by acquisition and through the development of additional products and services to meet the evolving demands of its client base.
Julian Telling, aged 50, established Sumus Plc in 1983 and built it into one of the largest independent financial advisers in the UK. The business was admitted to AIM in 2005 and merged with Lighthouse plc in 2008. Julian has over 25 years experience in the field of personal and corporate financial services and a track record of delivering organic sales growth, product innovation and successful mergers and acquisitions.
Commenting on the appointment, Colin Porter, Chief Executive Officer of STM, said: "We are delighted to welcome Julian to the STM Board as Non-Executive Chairman. His considerable experience and expertise, particularly in sales and marketing and affinity driven relationships, will be invaluable to STM as we continue to grow the Company. The Board joins me in extending its thanks to Bernard Gallagher for his valued contribution to the development of STM and wish him every success in the future."
Julian Telling, Non-Executive Chairman of STM, added: "STM is uniquely positioned to support a growing international client base of HNWs in an ever changing tax environment. STM's specialist services are often complementary to the existing financial planning and investment strategies of HNWs. With STM's office infrastructure already in place, the growth potential from building the STM profile in the financial services advisory community and building the pipeline of referrals for STM's niche services is considerable."
In accordance with Schedule 2 paragraph (g) of the AIM Rules, the Company announces the following information in respect of Julian Telling's current and past directorships. Mr Telling is currently a director of the following companies:
Capitecs Limited |
Brightside Group Plc |
Aquarela Developments Limited |
Dynamic Heating Services Limited |
Julian Telling Consulting Limited |
Bristol Ground School Limited |
Mr Telling was a director of the following companies during the past 5 years:
Bristol Flying Centre Limited |
Centreline Air Charter Limited |
The Falcon Group Plc |
Falcon International Investment Management Limited |
Sumus Plc |
Financial Synergies Limited |
Barnes Olson Aero Leasing Limited |
There is no further information required to be disclosed under Schedule 2, Paragraph (g) of the AIM Rules for Companies, pursuant to Mr Telling's appointment.
- Ends -
For further information, please contact:
STM Group Plc | |
Colin Porter, Chief Executive Officer colin.porter@stmgroupplc.com
| Tel: 00 350 200 42686 www.stmgroupplc.com |
Alan Kentish, Chief Financial Officer alan.kentish@stmgroupplc.com | Tel: 00 350 200 78614
|
Evolution Securities | Tel: +44 (0) 20 7071 4300 |
Jeremy Ellis / Chris Clarke | www.evosecurities.com |
FinnCap | Tel: +44 (0)20 7600 1658 |
Marc Young / Simon Starr | www.finncap.com |
Media enquiries:
Abchurch | |
Henry Harrison-Topham / Mark Dixon | Tel: +44 (0) 20 7398 7702 |
henry.ht@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
STM is an international financial services group which is listed on the AIM Market of the London Stock Exchange and made its first acquisition in 2007. The Group specialises in estate and succession planning and wealth structuring for high net worth individuals and their families. STM's clients include entrepreneurs, celebrities, sports stars and affluent retirees.
STM's strategy is to grow organically and by acquisition, in particular looking for businesses and jurisdictions which provide a complimentary offering to the Group. Today, STM has operations in Gibraltar, Spain, Jersey, Switzerland and Malta. The Group is also looking to expand through the development of additional products and services that its ever more sophisticated clients demand.
In order to achieve this, STM has, for example, incorporated a Gibraltar Life Insurance Company, STM Life plc, which provides life insurance bonds - wrappers in which a variety of investments - including investment funds - can be held. STM has developed a specialist international pensions division which specialises in QROPS, QNUPS and EFRBS. The growth in Jersey, through the acquisition of Zenith, has coincided with the introduction of the Jersey Foundation legislation which has resulted in a growing number of enquiries and resultant business.
Further information on STM Group can be found at www.stmgroupplc.com