Tilney Bestinvest announces the appointment of John Tiner and Breon Corcoran as Non-Executive Directors

UK investment and financial planning group Tilney Bestinvest today announces the appointment of John Tiner and Breon Corcoran as Non-Executive Directors*.

John Tiner

John Tiner is a leading figure in the UK financial services industry, with extensive commercial as well as deep regulatory experience, in both executive and non-executive roles. His career has included serving as Chief Executive of the Resolution Group and the UK Financial Services Authority, as well as Chairman of the UK Financial Capability Steering Group. He is currently a non-executive director of the Credit Suisse Group, a member of the advisory board of Corsair Capital, Chairman of the Urological Foundation and a Visiting Fellow and Member of the Advisory Board of the Oxford University Centre for Corporate Reputation. Last month Mr. Tiner was appointed Chairman of Towergate Insurance*. Mr. Tiner began his career with Arthur Andersen, where he worked for 25-years. In 2007 he was awarded a CBE and in 2011 he was made a Doctor of Letters from Kingston University.

Breon Corcoran

Breon Corcoran has considerable experience in developing online businesses and is the Chief Executive of UK-listed Betfair plc, one of the world’s largest sports betting and gaming operators. Prior to joining Betfair in 2012, Mr. Corcoran spent ten years at Paddy Power, Ireland’s largest bookmaker, where as Chief Operating Officer he had responsibility for its online and telephone based business. He began his career working as a proprietary trader at JP Morgan and Bankers Trust. Mr. Corcoran is a graduate of Trinity College, Dublin and has an MBA from INSEAD.

Michael Covell, Chairman of Tilney Bestinvest, commented: “We are delighted to welcome John and Breon to the Board. Both have had very impressive careers and are widely respected in their fields. John and Breon will each bring considerable commercial experience and strategic insight to the Board of Tilney Bestinvest, particularly in the respective areas of regulation and digital business.”

“John and Breon are joining the Board at an exciting time of growth and opportunity for Tilney Bestinvest. The business has made excellent progress in recent years both in terms of organic growth and through the successful combination last year of Tilney and Bestinvest. A new joint venture with Saga launching later this year represents a superb growth opportunity and, with the support of the Permira funds, we continue to explore further acquisitions subject to finding businesses that will fit well with our vision and culture, and where the services offered to our clients will be enhanced as a result.”

“Tilney Bestinvest has developed a well-diversified service model which enables us to support individuals and their families whether they want us to manage their investments for them, to work with the support of an adviser or self-manage their investments online. This leaves us ideally positioned to capitalise on the significant changes taking place in the landscape for UK pensions and investments.”

* These appointments are subject to FCA approval. Photographs of John Tiner, Breon Corcoran and Michael Covell are available on request by emailing roisin.hynes@tilneybestinvest.co.uk
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Press contacts:

Jason Hollands
Managing Director, Business Development & Communications
0207 189 9919
07768 661382
jason.hollands@tilneybestinvest.co.uk

Roisin Hynes
Senior Associate, Communications
0207 189 2403
07966 843 699
roisin.hynes@tilneybestinvest.co.uk

Note to editors

Tilney Bestinvest is a leading UK investment and financial planning group, owned by staff and funds managed by leading European private equity firm Permira. The group was created by the merger of Tilney Investment Management with Bestinvest in 2014. The combined group manages, advises or administers over £9 billion of client assets, supporting clients across the UK with over 400 staff.

On a full-year pro forma basis the Tilney Bestinvest group generated revenues of £67.6 million and profits on an EBITDA basis of £17.7 million during the 12-months to 31 December 2014.

In January 2015 Tilney Bestinvest and Saga plc, the UK-listed provider of services to the over fifties population announced a 50:50 owned joint venture wealth management firm: Saga Investment Services. The JV will launch in Autumn 2015.