Paul Piper to retire from ICG

RNS Number : 6533N

Intermediate Capital Group PLC

20 February 2009

 



Friday 20th February 2009

Paul Piper to retire from ICG after 20 years of service 

Intermediate Capital Group PLC ('ICG') announces that Paul Piper, Managing Director and Chief Investment Officer, will retire on 31 March 2009, after 20 years with the company. The company's Board will now comprise four executive directors (Tom Attwood, Philip Keller, Christophe Evain and François De Mitry)and five non-executive directors. Damien Scaillierez will become CIO.

As one of the original founders, Paul Piper has been instrumental in building ICG from its beginnings in 1989 into a leading international investor and fund manager. With its global team of 59 investment executives in 9 offices worldwide, ICG now manages €3bn in direct investments and €10bn in third party Mezzanine and Credit Funds.

Paul Piper said, 'I am very proud to have been part of building a business that continues to be a leader in its field, both in terms of track record and calibre of its team. I have been considering my retirement for some time, and as I passed the anniversary of 20 years of service, this seemed appropriate. I retire confident that the business is in good hands and I wish ICG every continued success.'

John Manser, Chairman of ICG, added 'I would like to thank Paul for his enormous contribution to ICG over the last 20 years. Paul retires with our very best wishes, leaving an exceptionally talented and experienced team with a well-earned reputation and track record of investing in credit. Led by the remaining four executive directors, I am confident ICG will continue to move from strength to strength.'

Over the past year Paul has worked closely with his replacement as Chief Investment Officer, Damien Scaillierez, to ensure a smooth transition. Damien has over 15 years of credit experience of which the last 9 have been with ICG. He has held a number of senior investment positions within ICG including Co-Head of France and is a member of the Global Investment Committee.

Analyst / Investor enquiries:

Tom Attwood, Managing Director, ICG PLC	[phone]
Philip Keller, Finance Director, ICG PLC	[phone]
Jean-Christophe Rey, Investor Relations, ICG PLC	[phone]

Media enquiries:

Amanda Fong, Corporate Communications, ICG PLC	[phone]
Helen Barnes/Teresa Bianchi, Brunswick Group	[phone]

 

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