2016 Open
2016 Open

Fenchurch Results and Appointment of Senior Managing Directors

19 May 2016

  • Revenues increase 15% for the year ended 31st March 2016 to a record £17.3 million on demand for specialist M&A advice to financial services sector clients
  • Recent client mandates for AXA, Legal & General, Lloyds Banking Group, Just Retirement and Computershare
  • Four promotions to Senior Managing Director

Fenchurch is pleased to announce record results for the year ended 31st March 2016 with revenues of £17.3 million, an increase of 15% against a backdrop of challenging market conditions. The firm’s capabilities are increasingly in demand from major financial institutions to execute complex M&A assignments in a rapidly changing regulatory environment. These results demonstrate the continuing importance of independent and expert advice to the financial services sector. Recent transaction activity and significant assignments have increasingly involved international clients from Europe, the United States, Canada, South Africa and Australia.

Notable publically disclosed transactions included advising:

  • Just Retirement on its £1.7 billion merger with Partnership Assurance
  • Jelf Group plc on the recommended offer by Marsh for £258 million
  • TA Associates on the sale of DNCA to Natixis for €771 million
  • Computershare on the acquisition of UKAR's mortgage servicing platform with £41 billion of mortgages
  • Legal & General on the sale of Suffolk Life to Curtis Banks for £45 million
  • AXA on the sale of Elevate to Standard Life
  • AXA on the sale of its Isle of Man offshore bond business to Life Company Consolidation Group
  • National Grid UK Pension Scheme on the sale of Aerion Fund Management to Legal & General with £13 billion of assets under management
  • Lloyds Banking Group on the sale of Clerical Medical International to RL360°

Promotions to Senior Managing Director

Fenchurch is pleased to announce that Graham Marchant, Vincent Bounie, Duncan Buck and Chris Deville have been promoted to Senior Managing Director.

Malik Karim, Founder and Chief Executive has been appointed Executive Chairman. Cliff Hampton is retiring as Chairman and will continue to work with Fenchurch as a Senior Adviser.

Malik Karim, Executive Chairman, said:

“On behalf of all of the Fenchurch team, I am delighted to congratulate Graham, Vincent, Duncan and Chris on their thoroughly deserved promotions to Senior MDs. They are exceptionally talented sector M&A experts who have delivered outstanding support to our clients. I am looking forward to working closely with them as part of an expanded leadership group to reinforce our position as a leading, owner-managed, corporate advisory firm focussed exclusively on the financial services sector.

Fenchurch continues to demonstrate excellent momentum and we remain extremely well positioned to sustain this in the near and medium term.”

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