Rathbone Brothers PLC : Directorate change

Rathbone Brothers Plc
Board Changes

Rathbone Brothers Plc ("Rathbones") announces that it is reducing the size of its Board to reflect changes to the management structure within its main operating subsidiary Rathbone Investment Management Ltd ("RIM"). There are no changes to individual management roles or reporting lines.

Richard Smeeton, Andrew Morris and Ian Buckley will step down from the board (and from the board of RIM) with effect from the end of the financial year (31 December 2012). Richard will continue to have his current management responsibilities in London and Jersey. Andrew will continue to have responsibility for RIM offices in Liverpool and the North. Both will continue to report to the head of investment management, Paul Chavasse. Ian will continue as head of the trust division, marketing department and risk management department, reporting to the chief executive, Andy Pomfret. He will remain a member of the Group Executive Committee.

Mark Nicholls, Chairman said.

"Following my appointment as chairman in 2011 and the appointment of Paul Chavasse as head of investment management in March 2012, we reviewed both our group management and our board governance. The decision to reduce the number of executive directors on the Rathbone Brothers Plc board will better align this board with the business and the new management structure introduced within our main operating company, Rathbone Investment Management Limited.  The change will also make the board composition compliant with the UK Corporate Governance Code.

The board are very grateful to Ian, Andrew and Richard for agreeing to step down from the board and we look forward to their continuing contribution to the growth of the business."

Richard Loader
Company Secretary

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Source: Rathbone Brothers PLC via Thomson Reuters ONE

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