Brian Crowe to stand down at Lombard
16 July 2012 London
Image: Shutterstock
Brian Crowe, a non-executive director of Lombard Risk Management has stood down after a career change.
Crowe joined the board in 2004 at the time of its IPO on AIM. He was the chief executive of global banking & markets at RBS until October 2008. Prior to joining RBS, he was head of derivatives at Chase Manhattan Bank in London.
Chairman Philip Crawford announced the departure, stating: “Crowe, who has been a non-executive director of the company and has played a valuable role on the board since its IPO in 2004, has informed us of his wish to stand down as a director shortly after an appropriate successor can be found. He has had a major career change since joining the board and the board has accepted this wish."
Crawford also asserted that the group has made an 'encouraging start to the financial year', adding that the trend towards more regulation was of obvious benefit.
"The company has had an encouraging start to the financial year with seven further contracts signed so far for the European Banking Authority's COREP programme in addition to the four signed at the very end of March. Two of these contracts have been with clients that previously used competitor systems for regulatory reporting.
"The contract size achieved so far implies that the revenues for this programme and related EBA initiatives should achieve higher revenue for the company than the Liquidity programme of 2010.
"The company's accounting policies mean that most of the revenue from our COREP projects is likely to be recognised in the second half of the financial year. In addition, progress has been made with advancing contracts and opportunities for COLLINE and for our new REFORM product."
Crowe joined the board in 2004 at the time of its IPO on AIM. He was the chief executive of global banking & markets at RBS until October 2008. Prior to joining RBS, he was head of derivatives at Chase Manhattan Bank in London.
Chairman Philip Crawford announced the departure, stating: “Crowe, who has been a non-executive director of the company and has played a valuable role on the board since its IPO in 2004, has informed us of his wish to stand down as a director shortly after an appropriate successor can be found. He has had a major career change since joining the board and the board has accepted this wish."
Crawford also asserted that the group has made an 'encouraging start to the financial year', adding that the trend towards more regulation was of obvious benefit.
"The company has had an encouraging start to the financial year with seven further contracts signed so far for the European Banking Authority's COREP programme in addition to the four signed at the very end of March. Two of these contracts have been with clients that previously used competitor systems for regulatory reporting.
"The contract size achieved so far implies that the revenues for this programme and related EBA initiatives should achieve higher revenue for the company than the Liquidity programme of 2010.
"The company's accounting policies mean that most of the revenue from our COREP projects is likely to be recognised in the second half of the financial year. In addition, progress has been made with advancing contracts and opportunities for COLLINE and for our new REFORM product."
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