Mattioli Woods appoints Joanne Lake as Deputy Chairman of its Board of Directors

– UK, Leicester – Mattioli Woods (MTW.L) announces the appointment of Ms Joanne Lake as Deputy Chairman to its board of directors. This role is an interim step prior to Ms Lake’s proposed appointment as Non-executive Chairman at the Company’s Annual General Meeting in October 2016. As previously reported, the Board is committed to developing the corporate governance and management structure of the Group to ensure they continue to meet the changing needs of the business.

Mr Bob Woods will continue as Executive Chairman through to October 2016, when he will remain on the Board and employed in a full-time executive role as Founder Director. Mr Woods’ focus will be as a key ambassador for Mattioli Woods and on developing the Group’s profile as experts in the sector. Mr Woods will also support the development of the Group’s high end corporate and private clients.

Ms Lake has been independent Non-executive Director and Chairman of the audit committee at Mattioli Woods since July 2012. She is a Non-executive Director of Gateley (Holdings) plc and has also served as a Non-executive Director of CIT Bank Limited. Previously, she spent 21 years in investment banking advising quoted companies on equity capital raising and acquisitions and disposals, most recently at Panmure Gordon and previously at Evolution Securities and Williams de Broe. Ms Lake is a Chartered Accountant, qualifying with Price Waterhouse, and is a fellow of the CISI and of the ICAEW and member of its corporate finance faculty.

The Board believes this is the optimal timetable for the role of Chairman to be separated from executive responsibilities, which will enhance conformity with conventional corporate governance standards as Mattioli Woods continues to grow both organically and by acquisition. The period between now and next year’s Annual General Meeting provides for a considered handover of responsibilities.

Executive Chairman, Bob Woods, commented: “I am delighted Joanne has accepted this greater role at Mattioli Woods. She brings a broad understanding of financial services and 30 years of corporate finance and City experience to the Board and we all look forward to working with her to progress our collective ambitions for the Group”.

Chief Executive, Ian Mattioli, commented: “We are delighted to welcome Joanne as Deputy Chairman. Her many years’ experience as an adviser to listed companies will be a great asset to the Group as we continue to grow and develop our business.”

“Having founded Mattioli Woods with me in 1991, Bob has been instrumental to the success of the Group and has overseen its development from specialist pension consultancy into a capable full service wealth management and employee benefits corporation. In this new role we will continue to benefit from his experience and insight as both a Director and a major shareholder. On behalf of the Board and indeed the whole Group, I would like to express my gratitude to Bob for his immense contribution to the Group to date.”

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