Directorate Change

RNS Number : 5025L

Liontrust Asset Management PLC

07 May 2010

 



Liontrust Asset Management PLC

7 May 2010

Liontrust appoints new Chief Executive

The board of Liontrust Asset Management PLC ("Liontrust" or the "Company"), the specialist independent fund management group, announces that Nigel Legge has stood down as Chief Executive with immediate effect and will remain as a consultant until 6 August 2010.

Adrian Collins, currently Non-Executive Chairman, will become Executive Chairman, and John Ions, Head of Retail, joins the board as Chief Executive with immediate effect. Vinay Abrol continues in his role as Chief Operating Officer and Chief Financial Officer. 

Adrian Collins said: "Having co-founded the company in 1994, Nigel has been the driving force behind the development of Liontrust, including its flotation in 1999, and has steered the business through an extremely challenging period over the past 18 months.

"With Nigel and the Board having begun the rebuilding of the business and the company being well positioned for the future, Nigel feels this is the right time to step down. The Board would like to thank Nigel for the energy and contribution he has made in building the company and wish him well for the future.

"In John Ions, who joined Liontrust earlier this year, we have an individual with a wealth of industry experience to lead the company and build on its strong financial position, pool of talented fund managers and range of funds to create value for investors and shareholders."

For further information please contact:

Liontrust Asset Management PLC                               Simon Hildrey                                                                  Marketing & Communications Director [e-mail]	020 7412 1700 / 07958 917528
Broadgate Mainland                                                     Neil Mainland/Roland Cross                                            [e-mail]	020 7726 6111 / 07831 401309
Altium Sam Fuller                                                                        Paul Chamberlain	020 7484 4040

Background on Adrian Collins

Adrian Collins, aged 55, has worked in the fund management business for over 35 years, a large part of which was at Gartmore Investment Management Limited, where latterly he was the managing director. He is on the Boards of City Natural Resources High Yield Trust plc, Douglas bay Capital plc, Midas Capital PLC, New City High Yield Trust plc and a number of other companies.

Background on John Ions

Prior to joining Liontrust in February 2010, John Ions was Chief Executive of Tactica Fund Management since it was established in 2005. Previously, John was Joint Managing Director of SG Asset Management and Chief Executive of Societe Generale Unit Trusts Limited, having been a co-founder of the business in 1998. John was also formerly Head of Distribution at Aberdeen Asset Management.

Current directorships - None.

Other directorships in the previous five years - None.

The Company confirms that there are no further matters to be disclosed pursuant to the requirements of paragraph LR 9.6.13 R of the Listing Rules of the UK Listing Authority.

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