T. Bailey is pleased to announce that Peter Letley, who was appointed Interim Chief Executive Officer earlier this year, will take up the position on a permanent basis from October 1st 2009. The decision was taken by the T. Bailey board, which agreed unanimously that Mr Letley become the new Chief Executive Officer.
Mr Letley said: “I am delighted to have been appointed as Chief Executive Officer and look forward to spearheading the growth phase of the business.
“There has been considerable change and development at T. Bailey. Our aim is to deliver an outstanding fund range with a strong performance record and the structure required to achieve this is now in place.”
Mr Letley has held high-profile roles such as Deputy Chairman, CEO and Chief Financial & Administrative Officer in key financial organisations, including the HSBC Group, during his career to date. He took over as interim Chief Executive Officer from Jason Britton on 14th July 2009, when Jason became the new Chief Investment Officer and former Chief Investment Officer Richard Martin retired from day to day involvement with the business.
The aim of Mr Britton’s move to becoming Chief Investment Officer was to allow him to focus solely on the fund management. The success of this change is illustrated by the outperformance of the T. Bailey Growth Fund, which has moved back into the top quartile of its sector since launch (to 23rd September 2009. Source: Lipper Hindsight).
After spending nearly three months as Interim Chief Executive Officer of T. Bailey, the board is confident that the skills and experience Mr Letley brings to the role make the change to a permanent position a great move for both parties.
Commenting on the appointment, T. Bailey Chairman Nicholas Forman Hardy said: “Peter brings a huge amount of experience in running a financial business and with that comes enormous clarity and vision to decision making.
“He recognises the importance of compliance and internal controls, adding a tremendous support to the fund management team. He is a real asset and I am thrilled he has joined us on a permanent basis.”
T. Bailey has also been strengthening its team in other areas, with new sales appointments due to be announced shortly.
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