Syndicate Asset Mgt Directorate Change - Mark Cheshire Appointment


 
TIDMSAM 
 
For immediate release: 0700hrs, Wednesday 8 December 2010 
 
                        Syndicate Asset Management Plc 
 
                  ("Syndicate", the "Company" or the "Group") 
 
                Directorate Change - Mark Cheshire Appointment 
 
Syndicate Asset Management Plc (AIM: SAM), the fund management group, is 
pleased to announce the expansion of its Board with the appointment of Mark 
Cheshire (52) as Group Director of Sales and Business Development. Mark 
Cheshire will also continue in his role as CEO of Syndicate's wealth management 
business, Ashcourt Rowan. 
 
Mark joined Ashcourt Rowan in November 2009 to drive through the restructuring 
programme that resulted from the merger of Syndicate's Ashcourt Asset 
Management Limited, Ashcourt Financial Planning Limited and Rowan and Company 
Capital Management plc - into a single, unified wealth management business 
serving the mass affluent market. During 2010, Ashcourt Rowan has seen revenues 
increase 28% for the six month period ended 30 September 2010 when compared to 
the same period for 2009. In October 2010 Ashcourt Rowan completed the 
acquisition of the IFA business of the Co-operative Bank resulting in the 
transfer of up to approximately GBP1.0 billion of funds under management or 
influence. 
 
In his role as Syndicate's Group Director of Sales and Business Development 
Mark will be responsible for working with the heads of the operating businesses 
to improve new revenue generation across the Group. 
 
Prior to Ashcourt Rowan, Mark Cheshire 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). Mark originally joined Lloyds in 1980. 
 
Peter Dew, Chairman of Syndicate Asset Management, commented: 
 
"Mark has an exceptional track record of revenue generation and performance 
improvement within the mass affluent retail financial services sector. We 
believe there are best practice elements which can be beneficially applied to 
both our high net worth wealth management and institutional fund management 
operations within the Group. We are pleased to welcome him to the Board." 
 
Mark Cheshire added: 
 
"Due to the already close organisational structure of the Group, I am delighted 
to be taking on this expanded role within the Group. This new position, 
combined with the other operational appointments announced today1 by Syndicate, 
means that we now have the most appropriate and co-ordinated structures in 
place to drive revenue generation forward across the Group." 
 
In the last five years, Mark Cheshire has held the following Directorships: 
 
Current: 
 
Ashcourt Rowan Asset Management Limited 
 
Ashcourt Rowan Administration Limited 
 
Ashcourt Rowan Financial Planning Limited 
 
Rowan & Co Capital Management Limited 
 
Mark Cheshire Associates Limited 
 
Previous: 
 
Lloyds TSB Private Banking Limited 
 
Lloyds TSB Stockbrokers Limited 
 
Lloyds TSB Independent Financial Advisors Limited 
 
Mark Cheshire currently has the following notifiable interests in Syndicate: 
 
Company Long Term Incentive Plan (LTIP): 
 
Number of Shares    Date of Award       Vesting Date        Expiry Date 
 
2,500,000           March 2010          March 2011          March 2021 
 
2,500,000           March 2010          March 2012          March 2022 
 
2,500,000           March 2010          March 2013          March 2023 
 
3,750,000           October 2010        October 2013        October 2023 
 
Company 2010 Deferred Discretionary Bonus Scheme: 
 
Number of Shares    Date of Award       Vesting Date        Expiry Date 
 
660,000             August 2010         August 2011         August 2021 
 
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 
 
Jonathan Freeman (Group CEO) Tel: 020 7659 8060 
 
Cenkos Securities plc 
 
Stephen Keys/Julian Morse Tel: 020 7397 8900 
 
GTH Communications 
 
Toby Hall/Christian Pickel Tel: 020 3103 3903 
 
Note to editor 
 
 1. On 8 December 2010, Syndicate announced that Christopher Jeffreys, the CEO 
    of Savoy is to take on oversight of the asset managers within the wealth 
    management businesses of the Group, Ashcourt Rowan and Savoy, and that Ravi 
    Shankar, the CEO of EPIC, is to also take on oversight of the Group's 
    various investment and research capabilities. 
 
 
 
END
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