Change at Record’s helm, but not its investment case
Chief executive to retire from 1 April 2024Earnings guidance maintainedNew fund launches planned for 2024 Record’s (REC:65.3p) well-regarded chief executive Leslie Hills is retiring after four years at the helm, ending a 31-year career with the currency manager. However, Hills will be leaving the business in safe hands as her successor, Dr Jan Witte, is chief executive of the group's two regulated subsidiaries: Record Currency Management Limited and EU-based Record Asset Management GmbH.Importantly, the board will continue targeting multiple organic growth initiatives, diversifying the product mix into higher-margin scalable products and acting...