For immediate release:
Syndicate Asset Management Plc
("Syndicate", the "Company" or the "Group")
Directorate Change
The Directors of Syndicate Asset Management Plc (AIM: SAM), the fund management
group with approximately £6.2 billion under management, notify the shareholders
that Jane Dumeresque has resigned from the Board with immediate effect as Group
Finance Director as a result of a restructure.
Neil Hale has been promoted to Group Financial Controller at Syndicate and will
be responsible for managing the accounts across the Group. Since January 2005
Neil has been group finance director for Syndicate's three Ashcourt branded
subsidiaries - Ashcourt Asset Management Limited Ashcourt Financial Planning
Limited and Ashcourt Administration Limited. He is a Chartered Accountant with
over ten years' experience within the financial services sector and became a
member of the Securities Institute in 2003.
The Directors intend to continue further strengthening management through the
appointment of additional directors and senior management and expect to
announce further appointments in due course.
Jonathan Freeman, Group Chief Executive, commented:
"The Board would like to thank Jane for her commitment over the last three
years. The Company is now moving towards a strategy focused more on organic
growth rather than acquisition based. Given this change of emphasis, the Board
believes Neil has the correct operational experience within the Group to allow
Syndicate to implement best those financial and reporting systems across the
business that will allow us better to monitor activities across the Group and
deliver efficiency improvements where relevant."
-Ends-
Further information:
Syndicate Asset Management plc
Jonathan Freeman (Group CEO) Tel: 020 7659 8060
Cenkos Securities plc
Stephen Keys/Julian Morse Tel: 020 7397 8900
GTH Communications
Toby Hall/Christian Pickel Tel: 020 7153 8039