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River & Mercantile appoints Lazard veteran chair

River & Mercantile appoints Lazard veteran chair

River & Mercantile Group has appointed Lazard veteran Jonathan Dawson to chair the business. 

Dawson assumes the role from acting chair Peter Warry, who had served in an interim capacity following the death of Paul Bradshaw in January. Warry will return to his role of senior independent director.  

Dawson began his career at the Ministry of Defence before joining investment bank Lazard in 1984, rising to the position of managing director before departing in 2005. He has since founded corporate pension fund advisory Penfida.  

Company chief executive officer Mike Faulkner said: 'I am excited that we have been able to find an individual like Jonathan to chair the company, with such a wide breadth of skills.  In particular, his experience in financial services and pensions will add greatly to an already strong board.' 

Dawson added: 'I am excited to be joining the River and Mercantile group PLC board. I believe there are huge opportunities for the specialist capabilities of the group and I look forward to working with the board and management team as the business develops.' 

Dawson is currently non-executive director and chair of the remuneration committee at National Grid and is senior independent director and chair of the audit and risk committee of Jardine Lloyd Thompson, in addition to chairing Penfida. 

In an update in July, River and Mercantile reported a net inflow of £3.8 billion in the 12 months to the end of June. This was split between net sales of £2.2 billion and 'positive rebalancing flows in Derivative Solutions of £1.6 billion'.  

Meanwhile positive investment performance across all its divisions added £1.7 billion worth of assets.  

Overall, fee earning assets under management increased by 22% to £31 billion. Performance fees for the 12 months were estimated to be £12.5 million.


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