Rance appointed to Operational Management Team

TIDMSAM

Syndicate Asset Management PLC

06 January 2011

For immediate release: 0700hrs 6 January 2011

Syndicate Asset Management Plc

("Syndicate", the "Company" or the "Group")

Syndicate appoints Jeremy Rance to Operational Management Team

Syndicate Asset Management Plc (AIM: SAM), the fund management group with approximately GBP6.5 billion under management, is pleased to announce the promotion of Jeremy Rance to the Group's operational management team as Group Chief Operating Officer. Jeremy will be responsible for planning, strategy implementation and operational performance across Syndicate's wholly-owned subsidiaries.

Jeremy Rance joined Syndicate's wealth management subsidiary, Ashcourt Rowan, in June 2010 as Director of Planning; he was previously with Barclays, KPMG and AMP where he held various strategy and leadership roles.

Since joining Ashcourt Rowan, Jeremy Rance has played an integral role in the successful acquisition and integration of the Co-operative Bank's IFA business - Co-operative Bank Independent Financial Advisers Limited ("CIFA") - into Ashcourt Rowan, and has been responsible for undertaking a comprehensive strategic review and upgrading operational performance.

During the current financial year to date, Ashcourt Rowan's funds under management and influence have increased 42% to GBP3.5 billion with revenues up 28% to GBP12.38 million at the half year (30 September 2010) when compared to the same period last year.

Mark Cheshire, Syndicate Interim Group CEO, commented:

"The Board's focus is now squarely on driving revenues and profits forward now that a stable financial base has been established for the Group. With the support of our major shareholders, we intend to rapidly leverage the natural synergies that exist across the Group and review opportunities within the wider market. Jeremy has played a critical role in establishing scalable platforms and processes within Ashcourt Rowan; the Group now looks forward to benefiting from his expertise in this wider role."

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Further information:

Syndicate Asset Management plc

Peter Dew (Chairman) Tel: [phone]

Cenkos Securities plc

Stephen Keys/Julian Morse Tel: [phone]

GTH Communications

Toby Hall/Christian Pickel Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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