For immediate release
5 August 2009
STATPRO GROUP PLC
(“StatPro” or the “Group”)
Appointment of Non-Executive Director
StatPro Group plc (AIM:SOG), the AIM listed provider of portfolio analytics and data solutions for the global asset management industry, today announces the appointment of Stuart J. Clark as Non-Executive Director, with effect from 1 September 2009. Stuart was previously President and Chief Executive Officer of Interactive Data Corporation (NYSE:IDC).
Carl Bacon, Chairman of StatPro, commented: “Stuart Clark is a high profile executive in our market place and his experience, especially in the area of financial data, analytics and solutions will add great value to StatPro. We welcome him to our board and look forward to working with him on our expansion plans.”
Stuart Clark added: “I have followed the progress of StatPro for several years now and am very pleased to be joining at this exciting stage in the Company’s development. StatPro has a strong management team and board of directors, and I am looking forward to working with all concerned to help take the business forward.”
Stuart James Clark, 61, has been employed in the financial information industry since 1968. From 1995 to 2009 Stuart held various senior positions at Interactive Data Corporation (“IDC”) and served as a member of the board of directors since 2000. As President and CEO from 2000, Stuart led the business through nine years of continuous and strong growth, with revenues more than doubling to US$750 million with profitability and cash flow growing more than threefold. IDC consistently outperformed the market in growth over that period and, at around 30%, had close to the highest EBITA margin amongst major comparable players in its industry. IDC has a current market capitalisation of approximately US$2.1 billion.
From 1993 to 1995, Mr. Clark was a director of UK-based Financial Times Information, part of the Pearson plc group, with specific responsibility for the Market Data Division. Prior to 1993, Mr. Clark led the market data division of Extel Financial Limited, which was acquired by Pearson plc’s Financial Times Group in December 1993.
List of directorships in the last five years:
Interactive Data Corporation (NYSE:IDC) until 2 March 2009
Subsidiaries of Interactive Data Corporation
- Interactive Data Pricing and Reference Data, Inc.
- Interactive Data Real-Time Services, Inc.
- eSignal, Inc.
- Infotec Holdings Corp.
- Detective Nominees Inc. (name changed to IDCO Nominees, Inc. effective as of 1/8/09)
- EXSHARE Financial Incorporated
- GTIS Corporation
- IDCO Canada Holdings, Inc.
- eSignal.com, Inc.
- IDCO Worldwide Holdings Ltd.
- Interactive Data (Singapore) PTE Ltd.
- Interactive Data (Hong Kong) Ltd.
- Interactive Data (Australia) Pty Ltd.
- Trading Techniques, Inc.
There is no information in Schedule Two paragraph (g) of the AIM Rules that is required to be disclosed in relation to Mr. Clark.
– Ends –
For further information, please contact:
StatPro Group plc
|Justin Wheatley, Chief Executive||020 8410 9876|
|Andrew Fabian, Finance Director|
|Ken Fleming/Jon Fitzpatrick||0131 220 6939|
|Julian Morse||020 7397 1931|
|Caroline Evans-Jones/ Tom Moriarty||020 7651 8688|
StatPro is a leading provider of portfolio analytics and data solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
StatPro has grown its recurring revenue from less than GBP 1 million in 1999 to GBP 28.3 million at end June 2009 and currently enjoys a renewal rate of approximately 95%. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. The Company has operations in Europe, North America, South Africa and Australia, with approximately 80% of recurring revenues being generated outside the UK.