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Record PLC REC MANAGEMENT REORGANISATION

  Record PLC (REC) - MANAGEMENT REORGANISATION

RNS Number : 2752R
Record PLC
16 November 2012




                                  RECORD PLC

                          MANAGEMENT REORGANISATION



Record plc  ("Record"  or the  "Company"),  the specialist  currency  manager, 
announces today that it will be undertaking a management reorganisation. As a
result of  this  reorganisation,  the combined  position  of  Chief  Financial 
Officer and Chief  Operating Officer currently  held by Paul  Sheriff will  be 
replaced by a separate Chief  Financial Officer and Chief Operating  Officer. 
Record anticipates that it will make internal appointments in respect of  both 
of these positions, and Record and Mr. Sheriff have agreed that he will  leave 
Record's employment and cease to be a director of Record plc with effect  from 
31^st March 2013.



Commenting on today's announcement, Neil Record, Chairman of Record plc, said:
"Paul has made a significant contribution to Record's development in the  four 
years he has been with the firm, developing the finance and operations  teams, 
improving the  corporate  governance  and  risk framework  of  the  Group  and 
successfully delivering the project to replace the core middle and back office
systems at Record. On behalf of the Board of Directors, I would like to thank
Paul for this contribution and to wish him well for the future."



James Wood-Collins,  Chief  Executive Officer,  said:  "I too  would  like  to 
acknowledge Paul's many successes at  Record. In particular I appreciate  the 
work he has done in developing and  strengthening his teams, and I am  excited 
about  the   prospect  of   offering  senior   individuals  at   Record   more 
responsibility in  these  new positions.  I  am  also grateful  to  Paul  for 
agreeing to continue through  to the end  of this financial  year to ensure  a 
smooth transition in respect of each position."



No changes  are being  made to  the management  of Record's  client-facing  or 
investment functions.  The  position of  Chief  Financial Officer  will  also 
involve a new appointment to the Board,  and Record is confident of making  an 
announcement to this effect before the end of the current financial year.



For further information, please contact:



Record                                                                     plc 

Tel: +44 (0) 1753 852 222

Neil Record

James Wood-Collins



MHP

Tel: +44 (0) 20 3128 8100

Nick Denton

John Olsen

Vicky Watkins





Notes to Editors



Record plc



Record is  a specialist  currency  manager and  provider of  currency  hedging 
services for institutional clients. Founded in 1983, Record has established a
market leading position as a currency manager. Specifically, the Group has  a 
leading position  in managing  Dynamic  Hedging and  Currency for  Return  for 
institutional clients.



The Group has three principal product lines:



- Dynamic Hedging, formerly known as  Active Hedging, where Record seeks  to 
eliminate the impact of currency movements on elements of clients'  investment 
portfolios that are denominated in foreign currencies when these movements are
expected to result in an  economic loss to the client,  but not to do so  when 
they are expected to result in an economic gain;

- Passive Hedging, where  Record seeks to eliminate  fully or partially  the 
economic impact  of  currency movements  on  elements of  clients'  investment 
portfolios that are denominated in foreign currencies; and

- Currency for Return,  formerly known as Absolute  Return, in which  Record 
enters into currency contracts  for clients with  the objective of  generating 
positive returns.



Record (LSE: REC)  was admitted  to trading on  the London  Stock Exchange  on 
3^rdDecember 2007.



This announcement  includes information  with  respect to  Record's  financial 
condition, its  results  of  operations  and  business,  strategy,  plans  and 
objectives. All  statements  in  this  document,  other  than  statements  of 
historical fact, including words such as "anticipates", "expects",  "intends", 
"plans",  "believes",   "seeks",  "estimates",   "may",  "will",   "continue", 
"project" and similar expressions, are forward-looking statements.



These forward-looking statements  are not guarantees  of the Company's  future 
performance and are subject to risks, uncertainties and assumptions that could
cause the actual future results, performance or achievements of the Company to
differ materially from those expressed  in or implied by such  forward-looking 
statements.



The forward-looking  statements  contained  in  this  document  are  based  on 
numerous assumptions  regarding  Record's  present  and  future  business  and 
strategy and speak only as at the date of this announcement.



The Company expressly disclaims any  obligation or undertaking to  disseminate 
any updates or revisions to  any forward-looking statements contained in  this 
announcement whether  as  a  result  of  new  information,  future  events  or 
otherwise.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


BOADELFFLFFFFBE -0- Nov/16/2012 07:00 GMT