22 July 2014: Today Ashcourt Rowan, the AIM listed wealth manager, announces changes to the board structure and the directors of the Company (the "Board").

Richard Sinclair, Chief Operating Officer, will step down from the Board with immediate effect and will leave the Company at the end of July to assume a senior role at another company in an unrelated industry. At this time, the group is not looking for a replacement and Richard's responsibilities will be split across the group.

Steve Haines, non-executive director, will also step down from the Board with immediate effect to assume an executive role as head of the group's governance and risk functions, whilst also having a wider management role within the Company. Hugh Ward, chairman of the Board, has been appointed as the new chairman of the Audit Committee, a position previously held by Steve.  It is intended that this appointment will be on an interim basis until a new non-executive director is appointed.

As a result of these changes the structure of the Company's board of directors will change to comprise a non-executive chairman, two non-executive directors and two executive directors (CEO and CFO).

The search for a new non-executive director, which has already been initiated, is being led by Hugh Ward and Jim Roberts (senior non-executive director) and an announcement will be made in due course.

Commenting on the restructure, group chief executive officer Jonathan Polin said: "Richard has played a central role in the modernisation of the group and was a key member of the team with us in the project we undertook to build a modern wealth group. On behalf of the board, I would like to take this opportunity to thank him for his exceptional contribution to the company over the past two years and wish him well in all his future endeavours.

"Steve has been a tremendous help in recruiting the new management team we currently have in place and I am delighted to welcome him as head of governance and risk. His skills and expertise will be invaluable as we look to move the business to the next stage of our development."

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About Ashcourt Rowan plc

Ashcourt Rowan plc provides a range of expert, integrated wealth management and employee benefits consultancy services for individuals, families, charities and trusts, business owners and employers.

Its financial planners, investment managers and consultants deliver services to clients on a face-to-face basis nationally, supported by dedicated technical departments in London and Leeds.

Headquartered in the City of London, Ashcourt Rowan has offices in Bath, Bournemouth, Brighton, Cambridge, Chelmsford, Exeter, Leeds, Macclesfield, Maidstone, Manchester, Rugby, Salisbury, St Andrews, Winchester and York.

www.ashcourtrowan.com

For further information please contact:

Maitland

Marina Burton/ Daniel Yea
Tel: 020 7379 5151
Email: ashcourtrowan@maitland.co.uk

Ashcourt Rowan

Katy Moore, marketing manager - communications
Tel: 020 7871 7252
Email: katymoore@ashcourtrowan.com

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