Appointment of Chief Executive

RNS Number : 1750L

Polar Capital Holdings PLC

17 July 2017

 

17 July 2017                                               

Polar Capital Holdings plc

Appointment of Chief Executive - Gavin Rochussen

Further to the announcements made on 19 January 2017 (RNS 5468U and RNS 5473U) Polar Capital Holdings plc ("Polar Capital" or the "Group"), today announces the appointment of Gavin Rochussen as an Executive Director and he has taken up his duties as Chief Executive.  Gavin has also become a partner of Polar Capital LLP.

Mr Tim Woolley has with effect from today relinquished his executive duties and has moved to a non-executive position.

Tom Bartlam, Chairman of Polar Capital, commented: "I am delighted that Gavin Rochussen has taken up his post as our new Chief Executive. Gavin has an exceptional record as a CEO in the asset management industry and has a proven record in developing an institutional and overseas business, both areas of potential growth for Polar Capital in future years."

Share Award and Shareholdings

As announced on 19 January 2017 (RNS 5473U), on taking up his role as Chief Executive, Mr Rochussen has joined the Group's Executive Incentive Plan and has been granted a deferred, forfeitable award to the value of three million pounds (the "Award") of ordinary shares of the Group ("Ordinary Shares"). In order to satisfy the Award the Group's Employee Benefit Trust purchased 802,967 Ordinary Shares at an average purchase price of 373.6P per share. The Award vests in three equal traches on the first, second and third anniversary of its granting. This comprises the total interest of Mr Rochussen in Ordinary Shares under the Executive Incentive Plan.

Also as announced on 19 January, Mr Rochussen purchased a beneficial interest in one million Ordinary Shares which are held in the name of Amigona Holdings Inc.

Enquiries:

Polar Capital Holdings PLC Gavin Rochussen (CEO) John Mansell (COO)	[phone]
Canaccord Genuity - Nomad and Joint Broker Simon Bridges  (QE) Andrew Buchanan	[phone]
Peel Hunt - Joint Broker Guy Wiehahn	[phone]
Camarco - PR Advisers Ed Gascoigne-Pees	[phone]

Disclosure as required in accordance with Schedule 2 of the AIM Rules for Companies:

Full Name: Gavin Mark Rochussen

Age: 57

Previous Names: None

Directorships: A full list of Gavin Rochussen's current directorships and past directorships held within the last five years were provided in the announcement on 19 January 2017 (RNS 5468U).  An updated list is provided below.

 Current Directorships (as at 17 July 2017)

Position	Company
Independent Partnership Advisor	James Hambro & Partners LLP
Governor and Director	Tonbridge School
Advisor	The Gani (IOM) Trust and Amigona Holdings Inc.

Past Directorships (in the last five years)

Position	Company
Chief Executive	J O Hambro Capital Management Limited
President and Director	JOHCM (USA) Inc.
Executive Director - International	J O Hambro Capital Management Holdings Limited
Director	BTIM UK Limited
Director	JOHCM (Singapore) Pte
Partner representative	James Hambro & Partners LLP

Apart from the disclosures above there are no further disclosures required to be made in respect of the appointment under Schedule 2(g) or Rule 17 of the AIM Rules for Companies

 

END

 

 

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