Mark Cheshire appointed Group CEO

 
TIDMSAM 
 
For immediate release: 0700hrs 15 February 2011 
 
                        Syndicate Asset Management Plc 
 
                  ("Syndicate", the "Company" or the "Group") 
 
                              Directorate Change 
 
                       Mark Cheshire appointed Group CEO 
 
Further to the announcements of 8 and 20 December 2010, the Directors of 
Syndicate Asset Management Plc (AIM: SAM), the fund management group, are 
pleased to announce the promotion of Mark Cheshire from interim to full-time 
Group CEO of Syndicate Asset Management with immediate effect. In addition to 
his Board position, Mark Cheshire will continue in his role as Chief Executive 
Officer of Syndicate's wholly owned wealth management division, Ashcourt Rowan. 
 
Prior to joining Ashcourt Rowan in November 2009 as Chief Executive Officer, 
Mark was previously Director of UK Private Wealth Management at Lloyds TSB 
Group (December 2007-May 2009) and Chief Executive Officer/Managing Director at 
Lloyds TSB Private Banking (August 2003-November 2007). 
 
Under Mark Cheshire's leadership, Ashcourt Rowan has experienced significant 
growth during 2010, revenues for the six months to 30 September 2010 having 
increased 28% when compared to the previous year. Separately, funds under 
management and influence have increased 42% to GBP3.5 billion during the 
financial year to date. 
 
Peter Dew, Non-Executive Chairman of Syndicate, commented: 
 
"We are delighted that Mark has accepted the position of Group CEO. He has the 
full backing of the Board and our major shareholders to drive through his 
programme for delivering significant growth within the business in terms of 
both revenue and profitability improvement." 
 
Mark Cheshire added, 
 
"During the last eighteen months Syndicate's balance sheet has been 
strengthened substantially with additional capital raised and the Group's debt 
and deferred consideration liabilities removed. We likewise have created a 
significant platform with a national footprint of offices through which to take 
full advantage of the major changes beginning to take place in the wealth 
management sector as a result of the proposals within the Retail Distribution 
Review. We intend to leverage fully off these changes and the assets held 
within the Group." 
 
Details on Mark Cheshire's notifiable interests in the Company and 
directorships held over the last five years can be viewed in the announcement 
of 8 December 2010. 
 
There is no further information on Mark Cheshire required to be disclosed under 
Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies. 
 
-Ends- 
 
Further information: 
 
Syndicate Asset Management plc 
Peter Dew (Chairman)                             Tel: [phone] 
Mark Cheshire (Group CEO)                        Tel: [phone] 
 
Cenkos Securities plc 
Stephen Keys/Julian Morse                        Tel: [phone] 
 
GTH Communications 
Toby Hall/Christian Pickel                       Tel: [phone] 
 
 
 
END