ROBIN SAVAGE CANACCORD
These changes are progressive. They build on the appointment of Andrew Westenberger as finance director in 2012. This board has the experience and the capabilities to ensure Brewin’s strategy to grow discretionary assets under management and increase operating margins is effectively implemented.
PETER LENARDOS RBC
We are pleased that the roles of chairman and CEO have been split, the board has been downsized, and the board will soon become fully compliant with the UK Corporate Governance Code. We believe today’s statement lends credibility to the company’s operating margin expansion plan.
OWEN JONES SHORE CAPITAL
The news of Matheson’s departure does not come as a surprise, to our minds. It does, however, open up the possibility of the group being subject to a takeover bid, in our view, with the exit of longstanding management now complete.