Directorate Change
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LEI: 549300XVXU6S7PLCL855
For immediate release
18 July 2024
Liontrust Asset Management Plc
("Liontrust" or the "Company")
Appointment of new Chair
Liontrust announces that Alastair Barbour, Non-executive Chair of the Company, will retire from the board of directors of the Company (the "Board") at the close of the Company's Annual General Meeting (the "AGM") on 19 September 2024. Accordingly, Mr Barbour will not seek re-election at the AGM. The Board thanks Mr Barbour for his outstanding leadership and service to the Company.
Liontrust announces that Luke Savage will be appointed as Non-executive Director and Chair of the Company with effect from 20 September 2024. Mr Savage will also serve as chair of the Nomination Committee.
Mr Savage is an experienced Non-executive Director and Chair, as the Chair of Chesnara plc from February 2020 to date and a Non-executive Director of Deutsche Numis, having held the position of Chair of Numis Corporation plc from 2022 to 2023. He previously served as a Non-executive Director of DWF Group plc and Liverpool Victoria Financial Services Ltd.
Mr Savage's career has also included senior roles in leading financial institutions such as Standard Life plc, where he was Group CFO, Lloyd's of London, Deutsche Bank AG and Morgan Stanley. He is a qualified Chartered Accountant (ACA from ICAEW).
John Ions, Chief Executive Officer, said "Alastair has made a significant contribution to Liontrust as a Non-executive Director and then Chair since 2019, with the Group's AuMA nearly doubling over the past five years. Alastair has provided great guidance and advice, and I would like to thank him for all the support he has provided.
We look forward to welcoming Luke as the new Chair as Liontrust seeks to continue to develop the business and ensure we are well positioned for the growth in the savings market. Luke has extensive experience across the financial services industry, including in pensions and asset management, and this will be hugely beneficial to Liontrust in the years ahead."
Alastair Barbour, Non-executive Chair, said: "I am proud to have been Chair of Liontrust. The Group has built a great business; one that is in strong financial health. This is based on the hard work and dedication of everyone at Liontrust and I thank them for their contribution.
I wish Luke all the very best as the new Chair from September. I will be watching closely, willing Liontrust on to further success, knowing that they can grow through their strong investment teams, distribution and brand. Luke has the breadth of experience, knowledge and ability to Chair Liontrust for its next phase of growth."
Luke Savage, incoming Non-executive Chair, added: "I thank the Board for the opportunity of succeeding Alastair as Chair. It is to Alastair's and their credit that Liontrust is such a strong business.
I have been impressed by the ambition and strategy of John Ions and Vinay Abrol, the talent they have in their teams and am confident that Liontrust can take advantage of the many opportunities that lie ahead."
Notes:
1. The appointment of Luke Savage was made by the Board on the recommendation of the Nomination Committee.
2. The Board has determined that Luke Savage will be an independent Non-executive Director on appointment in accordance with the UK Corporate Governance Code.
3. Luke Savage has been a director of the following listed companies in the last five years:
Current Directorships | Past Directorships |
Chesnara plc | Numis Corporation plc |
DWF Group plc |
4. There are no additional details to disclose in respect Luke Savage's appointment under Listing Rule 9.6.13R.
For further information please contact:
Teneo (Tel: 020 7353 4200, Email: [email protected])
Tom Murray, Colette Cahill, Jessica Pine
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)
Stephen Corbett: Head of Investor Relations
Simon Hildrey: Chief Marketing Officer
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Charles Leigh-Pemberton
Corporate Finance: James Moat
Panmure Liberum (Tel: 020 7886 2500)
Corporate Broking: David Watkins
Corporate Advisory: Atholl Tweedie
HSBC Bank plc (Tel: 020 7991 8888)
Corporate Broking: Sam McLennan, James Hopton
Corporate Advisory: Alexander Paul
ENDS
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