3i Group plc to appoint Sir Adrian Montague to succeed Baroness Hogg as Chairman

10 May 2010

 

The Board of 3i Group plc today announces the appointment of Sir Adrian Montague CBE as Chairman, effective at the conclusion of 3i's AGM in July 2010.  He joins the board as a non-executive director with effect from 1 June and will succeed Baroness Hogg, who took up her new role as Chairman of the Financial Reporting Council (FRC) on 1 May 2010.

Sir Adrian's career to date successfully spans both private and public sector leadership roles. He is currently non-executive Chairman of Michael Page International PLC, CellMark AB and Anglian Water Group as well as non-executive director at Skanska AB. 

Previously Sir Adrian was Chairman of Friends Provident PLC, British Energy Group PLC, Cross London Rail Links Ltd (Crossrail) from 2004-2005 and Deputy Chairman of Network Rail from 2002-4.  He was also closely involved in the implementation of the UK Government's policies investing private capital in public infrastructure, first as Chief Executive of the Treasury Taskforce, then as Deputy Chairman of Partnerships UK PLC.

Baroness Hogg. 3i Group Chairman said:

"I am delighted that Sir Adrian has been chosen as my successor. He has a very impressive record in the financial services sector and is an accomplished Chairman with a wide range of commercial experience."

Robert Swannell, 3i Group Senior Independent Director commented:

"We are particularly pleased that Sir Adrian has agreed to become Chairman. He brings a wealth of very relevant experience to 3i and we all look forward to working with him. On behalf of all at 3i, I would also like to acknowledge Sarah Hogg's extraordinary leadership of the board and commitment to the Company over many years and most particularly since she became Chairman at the beginning of 2002."

Sir Adrian Montague CBE commented:

"I look forward to becoming 3i's Chairman, at such an interesting time in the company's development. There will be great opportunities ahead, in all the sectors and territories in which 3i is active, and the business is well positioned to take full advantage of them."

There are no other matters to disclose in accordance with paragraph 9.6.13R of the FSA's Listing Rules.

For further information, contact:

Patrick Dunne
 020 7975 3566
patrick.dunne@3i.com

Rachel Richards
 020 7975 3573
rachel.richards@3i.com

Notes to Editors 

About 3i
3i is an international leader in private equity.  We focus on Buyouts, Growth Capital and Infrastructure and invest across Europe, Asia and North America.  Our competitive advantage comes from our international network and the strength and breadth of our business relationships.  These underpin the value that we deliver to our portfolio, shareholders and fund investors. www.3i.com