Appointment of new Chairman
09 May 2011
STM Group PLC (AIM:STM), the cross border financial services provider, is pleased to announce that Julian Telling has been appointed to the Board of the Company as the Non-Executive Chairman with immediate effect, replacing Bernard Gallagher, who steps down today.
STM specialises in estate and succession planning and wealth structuring for high net worth individuals and their families ("HNWs"), with STM acting as an international corporate and trustee service provider ("CTSP") through its offices in Gibraltar, Spain, Jersey, Malta and Switzerland. STM's strategy is to grow organically, by acquisition and through the development of additional products and services to meet the evolving demands of its client base.
Julian Telling, aged 50, established Sumus Plc in 1983 and built it into one of the largest independent financial advisers in the UK. The business was admitted to AIM in 2005 and merged with Lighthouse plc in 2008. Julian has over 25 years experience in the field of personal and corporate financial services and a track record of delivering organic sales growth, product innovation and successful mergers and acquisitions.
Commenting on the appointment, Colin Porter, Chief Executive Officer of STM, said: "We are delighted to welcome Julian to the STM Board as Non-Executive Chairman. His considerable experience and expertise, particularly in sales and marketing and affinity driven relationships, will be invaluable to STM as we continue to grow the Company. The Board joins me in extending its thanks to Bernard Gallagher for his valued contribution to the development of STM and wish him every success in the future."
Julian Telling, Non-Executive Chairman of STM, added: "STM is uniquely positioned to support a growing international client base of HNWs in an ever changing tax environment. STM's specialist services are often complementary to the existing financial planning and investment strategies of HNWs. With STM's office infrastructure already in place, the growth potential from building the STM profile in the financial services advisory community and building the pipeline of referrals for STM's niche services is considerable."
In accordance with Schedule 2 paragraph (g) of the AIM Rules, the Company announces the following information in respect of Julian Telling's current and past directorships. Mr Telling is currently a director of the following companies:
Brightside Group Plc
Aquarela Developments Limited
Dynamic Heating Services Limited
Julian Telling Consulting Limited
Bristol Ground School Limited
Mr Telling was a director of the following companies during the past 5 years:
Bristol Flying Centre Limited
Centreline Air Charter Limited
The Falcon Group Plc
Falcon International Investment Management Limited
Financial Synergies Limited
Barnes Olson Aero Leasing Limited
There is no further information required to be disclosed under Schedule 2, Paragraph (g) of the AIM Rules for Companies, pursuant to Mr Telling's appointment.
For further information, please contact:
|STM Group PLC|
|Colin Porter, Chief Executive Officer
|Tel: 00 350 200 42686www.stmgroupplc.com|
|Alan Kentish, Chief Financial Officer
|Tel: 00 350 200 78614|
|Evolution Securities||Tel: +44 (0) 20 7071 4300|
|Jeremy Ellis / Chris Clarke||www.evosecurities.com|
|FinnCap||Tel: +44 (0)20 7600 1658|
|Marc Young / Simon Starr||www.finncap.com|
|Henry Harrison-Topham / Mark Dixon||Tel: +44 (0) 20 7398 7702|
Notes to editors:
STM is a multi-jurisdictional financial services group listed on the Alternative Investment Market of the London Stock Exchange. The Group specialises in the delivery of a wide range of financial service products to professional intermediaries and in the administration of assets for international clients in relation to retirement, estate and succession planning, and wealth structuring.
Today, STM has trading operations in Gibraltar, Malta, Jersey, and Spain. It has also recently opened satellite offices in South East Asia, the Middle East, and South Africa. The Group continues to expand through the development of additional products and services that its ever-more sophisticated clients demand.
STM has, for example, a dedicated international pensions division which specialises in Qualifying Recognised Overseas Pension Schemes (QROPS) and Qualifying Non-UK Pension Schemes (QNUPS); it also has a Gibraltar Life Insurance Company, STM Life Assurance PCC PLC, which provides life insurance bonds - wrappers in which a variety of investments, including investment funds, can be held.
Further information on STM Group can be found at www.stmgroupplc.com