ARDEN Partners, the small and mid cap market broker, yesterday reshuffled its board by appointing a new chief executive and saying goodbye to non-executive chairman Lord Howard Flight, who has decided to leave the firm.
The board of the Alternative Investment Market-listed broker will be reduced in size by two seats.
Lord Flight will leave to pursue other business and political interests and Trevor Norris, group finance director, is retiring. Both changes will take effect at the end of December.
The shakeup will also see the appointment of executive director James Reed-Daunter as the company’s new chief executive, replacing incumbent Jonathan Keeling.
Keeling is moving to become executive deputy chairman to develop the firm’s global presence.
Reed-Daunter, 42, was a senior manager at the firm until July when he was appointed executive director.
Lord Flight, the former shadow chief secretary to the Treasury said:
“I have enjoyed working with Jonathan Keeling who has done a great job in establishing and sustaining Arden’s Indian corporate business. I think James Reed-Daunter is the right man to take over as chief executive.”