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Tatton CFO exits as assets jump by £1bn

Tatton CFO exits as assets jump by £1bn

Tatton Asset Management’s chief financial officer (CFO) Noel Stubley will step down from his role at the end of the month.

He will be replaced by Paul Edwards, who will join in May and has previously been group finance director of a number of Plcs, most recently Scapa Group.

Stubley, who has been CFO at Tatton since 2012, will remain with the firm until 31 July to help with handing over his responsibilities.

Tatton chair Roger Cornick said: ‘The board thanks Noel for his contribution to the success of the company during his tenure.

‘He helped lead the company through its early development to the recent successful IPO and the board wishes him well for the future. 

‘Paul brings considerable listed public company experience to the role which allied to his broad range of financial and operational expertise will greatly strengthen the management team.’

Tatton floated on the Alternative Investment Market (AIM) last year, after raising £87.2 million, including £10 million of new money, at its debut on AIM on 23 June, with 55.9 million listed ordinary shares at 156p each.

In a trading update today, the company reported that assets under management (AUM) hit £4.9 billion last year, up £1 billion.

Client firms of Paradigm Partners, the group's IFA support services business, rose to 368, up from 352 the prior year. Revenue and profit were in line with expectations.

Tatton founder and CEO Paul Hogarth (pictured) said: ‘The positive impact of our IPO has continued, and we are very pleased that the group has performed in line with expectations.

‘Increasing assets under management by £1 billion in the last twelve months to £4.9 billion, and £5 billion as at today, is a continued endorsement of the demand for a DFM service that offers competitive pricing and has delivered strong investment returns during challenging markets.’

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