Frenkel Topping Group PLC Directorate Appointment and Board Change (3337S)
October 02 2017 - 2:00AM
UK Regulatory
TIDMFEN
RNS Number : 3337S
Frenkel Topping Group PLC
02 October 2017
Strictly embargoed until 07.00, 02 October 2017
Frenkel Topping Group plc
("Frenkel Topping" or "the Company")
Directorate Appointment and Board Change
Frenkel Topping Group plc (AIM: FEN) is pleased to announce the
appointment of Paul Richardson as Executive Chairman of the Company
with immediate effect. Jason Granite will continue to serve as
Chief Investment Officer and a Non-Executive Director.
Paul has over 20 years of experience in financial services,
predominately in the UK private banking sector. Paul spent 6 years
at Coutts & Co, ultimately as head of London Private Banking,
where he was responsible for GBP16bn Assets under Management and
played an integral part of the team that delivered record net
profit growth. He went on to design and successfully execute a
change management programme, and subsequently rolled this model out
across all client facing units. Since then, Paul has held roles at
Barclays Wealth and Helvetia Wealth AG, where he served as director
and managing director, respectively. Most recently, Paul has been
performing a CEO role at Invest Africa Ltd, where he was managing
the development of long term strategies and structures to diversify
revenues and refocus the business model to scale and to grow. Paul
is an admitted solicitor with a post graduate degree from the
College of Law at Guildford.
Jason Granite, Chief Investment Officer of the Company,
commented:
"The past two years has seen a step change at Frenkel Topping;
we have grown assets under management by 17% to GBP778m, launched
our own discretionary fund management business, increased revenue
by 34% and are on track to triple the operating profit of the firm
between 2016 and 2017. We have built a highly cash generative
business with cash balances of GBP5m, acquired a new head office,
implemented new systems and processes across the business and grown
the team to 59 people. I am extremely proud of what we have
achieved over this period but I am more excited about the future.
This is reflected in the recent increase in my own shareholding in
the Company and that of the previously announced concert party
connected to myself. I am excited because Paul, as Executive
Chairman, has the experience and track record in the wealth
management industry to take Frenkel Topping to the next level and
achieve the growth in shareholder value that we are all committed
to. We as a Board welcome Paul and believe that his appointment,
together with the recently announced appointment of Stephen Bentley
as Finance Director, give the Board the perfect balance to drive
the business towards its medium term targets."
The following information regarding the appointment of Paul
Donald Richardson, aged 51, is disclosed under Schedule 2(g) of the
AIM Rules for Companies:
Current directorships Former directorships and/or
and/or partnerships: partnerships (within the
last five years):
WellChild Trust Trustee Chatom Capital LLP
Kingsdown TV Ltd Chatom (P&R) Ltd
E-giving Ltd Air Partner (India) Ltd
Air Partner AG
Chatom Ltd
Maddox Capital Advisors
Ltd
Invest Africa Ltd
Helvetia Wealth AG
Air Partner Plc
Paul Richardson has no shareholding in the Company.
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information:
Frenkel Topping Group plc www.frenkeltopping.co.uk
Jason Granite, Chief Investment
Officer
Tel: 0161 886 8000
finnCap Ltd Tel: 020 7220 0500
Adrian Hargrave / James Thompson
/ Alex Price
Tony Quirke
Walbrook PR Ltd Tel: 020 7933 8780
or frenkeltopping@walbrookpr.com
Paul McManus Mob: 07980 541 893
Nick Rome Mob: 07748 325 236
About Frenkel Topping: www.frenkeltopping.co.uk
Frenkel Topping provides specialist independent financial advice
focussed on asset protection for clients. The specialist
independent financial adviser has a market leading position
providing advice and fund management services for personal injury
trusts and clinical negligence awards and is well placed to provide
services to a wider customer base.
The Company provides a range of wealth management services
including bespoke investment portfolios, financial and tax
planning. It is focused on increasing its assets under management
by growing the number of fee earners who are qualified to provide
benefits protection for a variety of needs as the Company adds to
its personal injury and clinical negligence specialism.
It has a national presence with offices in Manchester,
Birmingham, Cardiff, London and Leeds and has relationships and
infrastructure in place to further grow its reach and target
markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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