Arrow Global Group PLC Directorate Change (7410D)

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RNS Number : 7410D

Arrow Global Group PLC

28 June 2019

Directorate Change

FOR IMMEDIATE RELEASE

28 June 2019

Arrow Global Group PLC

("Arrow Global" or the "Company" and together with its subsidiaries the "Group")

Appointment of Chief Financial Officer

Arrow Global, a leading European investor and asset manager in secured and unsecured defaulted and non-core loan portfolios and real estate, announces the appointment of Matt Hotson as Group Chief Financial Officer ('CFO'). Paul Cooper has resigned in order to take up the position of Deputy CFO at M&G Prudential.

Matt Hotson, most recently CFO UK and International at RSA Insurance Group, will commence the handover with Paul during July 2019. Matt will join the Board as CFO when, subject to regulatory approval, he starts in August 2019. Paul will stay with the business until 9 August 2019 to ensure a smooth handover.

Lee Rochford, Group Chief Executive Officer of Arrow Global, commented:

"Paul has been a valued member of the management team since joining Arrow Global and, on behalf of the Board, I would like to thank Paul for his contribution. I am pleased Paul will remain with the business until after the interim results, ensuring a smooth transition. His new role represents a great opportunity at a leading financial services company undergoing transformational change. We wish Paul well in this next stage of his career.

"We are delighted Matt will join us from RSA Insurance. Matt is a strong finance professional with experience of leading FTSE100 and FTSE250 finance functions and a proven record of developing, communicating and delivering on strategic objectives, across a number of sectors. Matt will be a great addition to a strong team, and we look forward to welcoming him to Arrow Global."

Commenting on his appointment Matt said:

"I believe that it is an exciting time for the business, with a considerable value creation opportunity driven by the pivot to a less capital-intensive business model. I look forward to helping Arrow Global drive the next stage of its development."

For further information:

   Arrow Global Group PLC                                              [phone] 

Lee Rochford, Group CEO

Duncan Browne, Head of Investor Relations

FTI Consulting [phone] /[e-mail]

Neil Doyle

Tom Blackwell

Laura Ewart

Notes

Matt Hotson biography

   2012 -2019   RSA Insurance Group Plc 

Initially in the Group Corporate Centre as Investor Relations Director then as Director, Performance Management, Strategy and IR. During 2015 Matt was interim Group CFO before taking the role of CFO, UK & International in January 2016.

2011 - 2012 Cable & Wireless Worldwide

Matt was responsible for IR and Communications at Cable & Wireless Worldwide during the sale of the business to Vodafone.

1997 - 2011 Legal & General Group plc

Matt was at IR & Strategy Director for two years following five years as Group Strategy Director. Prior to this he undertook a number of finance, strategy and business leadership roles.

1991 - 1997 NatWest Bank plc

Junior finance, strategy and marketing roles.

Matt holds masters degrees from Cambridge University and the Open University and is currently studying for a PhD at Exeter University.

Regulatory Disclosures

The Company confirms that there are no details to disclose in respect of Listing Rule 9.6.13R.

In accordance with Listing Rule 9.6.11, the Company confirms that Matt Hotson will join the Company's Disclosure Committee when he joins the Board.

Remuneration arrangements

The compensation package offered to Matt Hotson is in line with Arrow Global's shareholder approved remuneration policy, and full details will be included in the Company's Directors' Remuneration Report for 2019.

The section 430(2B) statement in relation to Paul Cooper will be available on the Company's website in due course.

ENDS

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END

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June 28, 2019 02:01 ET (06:01 GMT)