Directorate change

11/11/2009, 8:00 AM (Source: GlobeNewswire)
LSE: CIN

11 November, 2009

City of London Group Plc

Directorate Change

City of London Group Plc has appointed a new top management team,
with strong City experience and reputation, to continue to exploit
opportunities in the financial services field as the economy
recovers. The team, with strong City experience and reputation, is
led by Eric Anstee as Chief Executive. It starts work immediately
and has identified initial investments including financing for
professional practice firms.

Mr Anstee, whose earlier years were spent as a partner with Ernst &
Young, is currently Non-Executive Director with the Financial
Reporting Council, Insight Asset Management (the UK institutional
investment wing of Bank of New York Mellon) and with Paypoint plc and
serves on The Takeover Panel Appeals Board. He was until 2006 Chief
Executive Officer of the Institute of Chartered Accountants. He is
joined on the Board by John Kent as Executive Director, Corporate
Development. Mr. Anstee and Mr. Kent have worked together at three
FTSE 100 companies since 1996 - Eastern Electricity, Energy Group and
Old Mutual.

A third member of the team is Trevor Hanham, a highly experienced
General Manager with a strong IT background and a career spent with
BT.

In the short term, the team will pursue significant investment
opportunities where discussions are already taking place. Thereafter,
the Group intend to exploit situations where the mainstream banks
have withdrawn support from growing small and medium sized businesses
and practices, both listed and unlisted.

City of London is an Investment Company under chapter 15 of the
Listing Rules.

A further announcement will be made shortly in relation to LR 9.6.13.

Further info:

City of London Group Plc
Henry Lafferty, Chairman: 07860 788551
Eric Anstee, CEO: 07836 666339

Tel: 020 7628 5518

Seymour Pierce Limited
Chris Howard

Tel: 020 7107 8000

Note to Editors: Biogs of the three executives attached for
information.

Eric Anstee is a Chartered Accountant with a strong City reputation.
He is currently Non-Executive Director with The Financial Reporting
Council, Insight Asset Management (the UK institutional investment
wing of Bank of New York Mellon) and with Paypoint plc, as well as
serving on The Takeover Panel Appeals Board. His past Non-Executive
positions have included Chairman of Mansell plc, SSL International
plc and Severn Trent plc. His early career included a period of 10
years as a partner with Ernst & Young and a three year secondment to
HM Treasury.

Until the end of 2006 he was Chief Executive of The Institute of
Chartered Accountants. Prior to that, his executive positions
included Chairman and CEO of Old Mutual Financial Services plc. He
has been CFO of three FTSE100 companies - Old Mutual plc, The Energy
Group plc and Eastern Electricity plc.

John Kent is a corporate development specialist with a background in
Government, the City and Industry. He is currently Chairman of two
private equity firms and a Non-Executive Director of TTT Moneycorp
Ltd, the foreign exchange business. He has led strategy and corporate
finance/development for three FTSE 100 groups in the energy and
financial services sectors. More recently he has been acting as a
corporate development consultant, advising companies such as Close
Bros, Filtronic plc. and Aga Rangemaster Group plc. His earlier
career as a "fast stream" civil servant in DTI/Treasury included the
initial privatization programme. This was followed by a successful
spell in Lloyds Merchant Bank, where he became a main board director
and the largest fee generator during the early 1990s.

Trevor Hanham is a highly motivated General Manager with over 27
years experience in Telecommunications, across a broad range of
disciplines. Currently an independent consultant, he has spent most
of his career with BT where he specialized in the international
arena, having been appointed as Managing Director, East & West Africa
for the new Concert global venture between AT&T and BT. This followed
responsibility within BT for some 16 countries across East & West
Africa, managing a full range of business services and relationships
with incumbent carrier operators, new entrants, governments and
regulators following the liberalization of telecommunications markets
during the 1990s. Prior to his international experience he acted as
Account Director for BT's blue chip clients in the UK.



Picture of Eric Anstee :http://hugin.info/138319/R/1353938/328062.jpg
(CEO)
Picture of John Kent :http://hugin.info/138319/R/1353938/328063.jpg
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