Dr. Dermot F. Smurfit to retire as ML Capital Chairman
Independent Director Barry McGrath to become independent Chairman of the holdings board as of December 31
Friday 21st December, London. Following more than five and a half years at the helm, Dr. Dermot F. Smurfit has decided to step down from the board of ML Capital at a time he feels the company is set to embark in its next phase of growth, stepping down as Chairman December 31st 2018.
During his tenure at the company, Dermot has driven the development of the senior leadership team, has helped cultivate an enhanced corporate governance culture and also played a significant role in promoting the company globally to his network.
Commenting on the announcement, Dr Smurfit says, “I have been Chairman of ML Capital since April 2013 – during that time the company has achieved remarkable growth with AUM growing from less than $1 billion to over $7 billion today.
“We are now a major player in the Fund Management Business with some 60 funds now attached to our management company. The company, under the leadership of Cyril Delamare and his senior management team is both profitable and ready for its next growth phase.
“I have decided it is now time for me to step aside and have appointed Mr Barry McGrath following approval from the Board to become the next Chairman to help lead that charge. I will continue to hold my financial stake in the company and look forward with great confidence to see continued growth in the years to come.”
Having been one of the leading law partners in Ireland for over 15 years, Barry McGrath will step in to the role as Chairman of ML Capital. Supporting ongoing growth and the company’s client centric philosophy, McGrath will bring his valuable experience and considerable network to the company.
Barry McGrath led Maples and Calders Dublin Investment Fund practice between 2008 and 2017 where he and his team grew its group to become the largest funds practice in Ireland. He says, “I am delighted to take over from such a charismatic and effective chairman who has supported the growth of the business and under his stewardship has brought to the board high standards of reporting and compliance which is paramount in today’s environment. ML capital is a new challenge for me and one that I feel I can add significant value by working alongside a dynamic group of partners and executives.”
ML Capital handles all aspects of the fund structuring and launch on investment managers' behalf. They have had comprehensive coverage of investors in all key European markets for the past 20 years.
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About ML Capital
ML Capital is a forward looking leading independent fund structuring and investment management firm specialising in European regulated fund structures. As an award-winning platform provider, we partner with the very best of investment managers to bring to market the latest, most appropriate, fund structures to comply with the raft of incoming regulatory requirements, whilst meeting the ever increasing expectations of investors. As at September 30th, 2018, group AUM stands at $7 billion.
ML Capital handles all aspects of the fund structuring and launch on investment managers' behalf. Through our dedicated network we also offer fund sales and distribution, if required, and have had comprehensive coverage of investors in all key European markets for the past 20 years.
Our goal is to provide the most appropriate fund structures to maximise distribution opportunities across all key markets. Our solutions bring together market leading service providers with some of the very best minds in the regulated fund space; providing well managed European investment products with the highest levels of service and governance. We ensure all incoming investors and partners come in with the full knowledge that they are investing into structures that are designed to protect and preserve investor interest.
MLC Management Ltd acts as third party management company for UCITS and AIFMD funds. Offering better compliance, oversight and management facilities than self-managed structures, the management company is the future of fund structuring; as the industry responds to the desire of investors and regulators for greater substance, we believe management companies will become the structure of choice for new funds, as others move away from self-managed fund structures.
For more information on ML Capital please visit www.mlcapital.com