New Director Appointment, FinnCap Group Plc
The Board of finnCap is pleased to announce the appointment of Richard Charles Snow as its Chief Financial Officer (CFO), subject to FCA approval. It is anticipated that Richard will join the Board in May 2020.
Tom Hayward, finnCap's current CFO, will continue to serve on the Board as both Group COO and Managing Partner of Cavendish, roles he assumed following the departure of the Group's former Chief Commercial Officer last year.
Richard is currently the Finance Director and Compliance Officer for Finance and Administration of the UK law firm Greenberg Traurig, LLP. He qualified as a Chartered Accountant with Arthur Andersen in 1991 and moved to the investment banking industry gaining 15 years' experience in corporate advisory at Charterhouse, Merrill Lynch, Goldman Sachs and Nomura. From 2006 to 2011 Richard was director of M&A and then Investor Relations at Vodafone Group plc. From early 2014, he was Director of Investor Relations of Ladbrokes plc and then, from December 2015, he served on its Executive Committee as acting Chief Financial Officer leading the finance team through the merger with Coral.
Commenting on the appointment, Sam Smith, CEO, said:
"The change of role for Tom and the appointment of Richard significantly expand the capacity of the management team at a key point for the Group. Tom has been an integral part of finnCap's growth and was instrumental in the Group's acquisition of Cavendish and subsequent IPO. We are very pleased that he will continue to contribute as both Managing Partner of Cavendish and the Group's COO with a specific focus on the Group's operating infrastructure.
Richard brings substantial experience in finance, investor relations and M&A. We are delighted that he has chosen to join us and look forward to welcoming him to the team. Richard's previous roles will be invaluable as we continue finnCap's growth as a full-service financial group."
It has been agreed that Richard will be issued with options over 250,000 finnCap shares, granted at market price and conditional on certain performance targets, pursuant to the Group's share option scheme. Richard has no other interest in shares in the Company.