10 June 2024

JTC PLC

(the "Company" and together with its subsidiaries "JTC" or the "Group")

Resignation of Independent Non-Executive Director

JTC announces the resignation of Kate Beauchamp from her position as an Independent Non-executive Director of the Company, effective immediately. 

Kate's resignation will enable her to assume the role of Group Head of Institutional Client Services at JTC with responsibility for the strategic development and performance of the Group's global funds and corporate business lines.  Kate's appointment as Group Head of Institutional Client Services will take effect from 2 September 2024. As part of her new role, Kate will lead the global Institutional Client Services board and be appointed as a member of the JTC Group Holdings board.

Prior to her resignation as an Independent Non-executive Director of the Company Kate was the Chair of the Governance & Risk Committee and a member of the Audit, Nomination and Remuneration Committees. 

The Company's Senior Independent Non-executive Director, Dermot Mathias, has been appointed as interim Chair of the Governance & Risk Committee. 

The Board acknowledges the temporary reduction in female representation, falling below its stated minimum target of 40%, due to Kate's resignation. However, it is the Board's collective belief that the Company will greatly benefit from Kate's decision to join JTC's senior management team and has taken appropriate action to ensure that the resulting Board gender imbalance is addressed swiftly.

The Board and Nomination Committee commenced the search for suitable additional independent Non-Executive Directors to further strengthen the Board and enhance diversity in December 2023. This process has been expanded to include candidates to replace Kate as an Independent Non-Executive Director and to serve as Chair of the Governance & Risk Committee.

The Company will provide further updates on these appointments in due course.

In the meantime, the composition of the Board's Committees is as follows:

·      Audit Committee: Dermot Mathias (Chair), Michael Gray and Erika Schraner

·      Remuneration Committee: Michael Gray (Chair), Mike Liston, Dermot Mathias and Erika Schraner

·      Nomination Committee: Erika Schraner (Chair), Mike Liston, Dermot Mathias, Michael Gray and Wendy Holley

·      Governance & Risk Committee: Dermot Mathias (interim Chair), Michael Gray and Erika Schraner

No further information is required to be disclosed pursuant to Listing Rule 9.6.13R.

Commenting on today's announcement, Mike Liston, Chairman of JTC said:

"On behalf of the Board I would like to thank Kate for her valuable contribution during her tenure on the Board. We are delighted that she is now taking the role of Group Head of Institutional Client Services and anticipate Kate's in-depth knowledge of JTC's operations, accumulated during her time as a Non-executive Director, will bring invaluable insights to her new management responsibilities. We look forward to her continued contributions to the Company's success."

Nigel Le Quesne, CEO of JTC, said:

I am delighted to welcome Kate to JTC's management team. As a qualified lawyer with over two decades of experience in both private and commercial practice, Kate has a proven track record of providing exceptional corporate and advisory services in the UK and US. In addition to her most recent tenure as the CEO of a global engineering group, she acts as an independent consultant on good governance and board effectiveness to both private and public companies. A seasoned lecturer on matters of property, trusts, and equity under UK law, Kate's insight, professionalism, and strong governance expertise is a welcome addition to the Group's executive team. Kate's time as a Non-executive Director on the Board has further honed her ability to offer an independent perspective, potential risk-sensing capability, and broader outlook, which is instrumental in facilitating balanced and well-rounded leadership decisions. I wish Kate every success in her new role at JTC."

Kate Beauchamp, added:

"Having been immersed in the Group's ethos and operations as a Non-executive Director at JTC over the past two and a half years, I am thrilled to now be transitioning into the role of Group Head of Institutional Client Services. Throughout my tenure on the Board, I have been consistently inspired by the stellar standards of corporate governance and risk management which underpin the Group's operations and my focus will remain on fostering the unique culture and commitment to service excellence that the JTC team embodies. I look forward to lending my insights and experiences more directly in service of our institutional clients, contributing to the Company's growth ambitions in this new capacity."

Further information:

Miranda Lansdowne

Group Company Secretary

+44 1534 700 000

Miranda.Lansdowne@jtcgroup.com

About JTC

JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.

www.jtcgroup.com