finnCap Group PLC (AIM:FCAP) announces that Jon Moulton, Chairman of the Company, will retire from the Board on 31 December 2020. Jon, who has served as a Director and Chairman of the Company for over eleven years, was instrumental in the growth and development of finnCap into a leading financial services company for growing companies and in its expansion through the acquisition of Cavendish Corporate Finance LLP and concurrent IPO in November 2018.
Robert Lister will join the Board on 1 January 2021 as a non-executive director and be appointed Chairman on that date. Robert will also Chair the Risk and Compliance Committee and be a member of the Nominations, Audit and Remuneration Committees.
Robert Lister spent 25 years in investment banking first with Barclays de Zoete Wedd where he started as a graduate in 1983 and rose to become Head of European Equities in 1998 and then at Dresdner Kleinwort Benson where he was Global Head of Equities. Since then Robert has been appointed as a non-executive director of Investec Wealth and Investment Limited (2010), Aberdeen Smaller Companies Income Investment Trust PLC (2012), Credit Suisse Asset Management Limited (2012) and Integrafin Holdings PLC (2019). He is also Investment Expert and Chair of the Salvation Army International Trust Fund and Retired Officer Allowance Scheme.
In addition, having completed oversight of the integration of Cavendish into the Group, Lord Leigh of Hurley has decided to step down from the Board today and return to a front-line relationship and revenue generation role as Senior Partner of Cavendish.
Commenting on his decision to retire, Jon Moulton said:
"It has been a privilege to serve on finnCap's board and to be part of its development from a buy-out into an established and high-quality advisor to growing companies. Today's results, where we have recorded record half yearly revenue, show just how far we have come and provides the right time for me to hand over to a new Chairman. Whilst regarding myself as irreplaceable, I am optimistic that my successor will outperform me. I welcome Robert to finnCap and its Board, he brings great experience of the financial services industry and as a Chairman, and I look forward to watching finnCap's future growth as a long-term supporter and investor. Adding Cavendish to finnCap has been a key strategic step in the development of our business. I would like to thank Howard for his valuable contribution to the Board during the integration and am delighted that he is remaining as Senior Partner of Cavendish."
Sam Smith, CEO said:
"Jon has been an enormous asset for finnCap and to me personally as a CEO. I have enjoyed his support, guidance and challenge throughout the eleven years we have worked together creating finnCap. After a thorough external recruitment process, I am delighted that Robert will be joining us. He brings a wealth of commercial and financial experience and will broaden the Board's expertise and insight in the sectors in which we operate."
Robert Lister said:
"I am very much looking forward to joining my new colleagues at finnCap and the Board and supporting them as they grow and expand finnCap's services whilst delivering shareholder value."
Lord Leigh said:
"Now that the integration of Cavendish and finnCap is complete, it is the right time for me to return to my main role - originating deals and delivering great value for clients as Senior Partner of Cavendish, as well as pursuing other outside interests. I welcome Robert as our future Chairman."