Hansard Global plc
("Hansard Global" or the "Company")
Executive Management Changes
Hansard Global announces today that Vince Watkins will be resigning from his position of Chief Financial Officer and retiring from the Company after 20 years' service.
Tim Davies will be joining Hansard Global as Chief Financial Officer with effect from 8 April 2015, assuming responsibility for Finance, Actuarial, Legal and Company Secretarial functions. Vince will remain with the Company until 30 June in order to oversee a period of transition.
Tim, 41, joins us with 19 years of insurance experience, most recently with HSBC Life Europe, Dublin, where he spent the last 8 years as Managing Director and as Finance Director for 2 years prior to that. Prior to this he was Senior Manager with PricewaterhouseCoopers in both Dublin and Boston, having worked 9 years within their insurance and financial services division.
At the same time, Paul Harwood, Group Chief Actuary, will be leaving the Company after 20 years' service. This role will be taken over by his current deputy, Ailish Sherlin, who will report to the CFO. Ailish has been at the Company for 11 years.
Gordon Marr, Chief Executive, said:
"I welcome Tim and congratulate him on his appointment. I am delighted he is joining our Company. He has a keen understanding of insurance businesses and was the outstanding candidate for the role.
"The Board would like to thank Vince for all his service to the Company over the last 20 years. Vince guided the Company to its listing on the London Stock Exchange in 2006 and has played a key role in leading the finance team and investor relations function. We wish him well for the future. Likewise, the Board expresses its gratitude to Paul for his many years of service and his work in various roles across the Group, and similarly wishes him well for the future."
Contact details
For further information, please contact:
Hansard Global plc
Gordon Marr, Chief Executive 016 2468 8000
Bell Pottinger 020 3772 2561
Dan de Belder / Duncan Mayall
Notes to Editors:
· Hansard Global plc is the holding company of the Hansard Group of companies. The Company was listed on the London Stock Exchange in December 2006. The Group is a specialist long-term savings provider, based in the Isle of Man.
· The Group offers a range of flexible and tax-efficient investment products within a life assurance policy wrapper, designed to appeal to affluent, international investors.
· The Group utilises a controlled cost distribution model by selling policies exclusively through a network of independent financial advisors, and the retail operations of certain financial institutions who provide access to their clients in more than 170 countries. The Group's distribution model is supported by Hansard OnLine, a multi-language internet platform, and is scaleable.
· The principal geographic markets in which the Group currently services policyholders and financial advisors are the Far East, Latin America and the Middle East, in the case of Hansard International Limited, and Western Europe in the case of Hansard Europe Limited, the Group's two life assurance companies. Hansard Europe Limited closed to new business with effect from 30 June 2013.
· The Group's objective is to grow by attracting new business and positioning itself to adapt rapidly to market trends and conditions. The scaleability and flexibility of the Group's operations allow it to enter or develop new geographic markets and exploit growth opportunities within existing markets without the need for significant further investment.
· Following the closure of Hansard Europe Limited to new business with effect from 30 June 2013, the Group continues to report new business performance of Hansard International Limited alone within this document. Reporting of Assets under Administration incorporates cash flows relating to insurance policies issued by both Hansard International and Hansard Europe.
