EMAC completes restructuring
30 June 2010
The EMAC Group successfully completed a partial restructuring of its operations.
Richard Nunneley, Chairman of EMAC, commented: "This has been an interesting and challenging period for us all yet much has been achieved. We have undergone a number of structural and management changes. Matthew Gilpin has for some time been looking at developing agricultural and forestry interests in the region under the aegis of Agrotrust. This seemed a sensible course for him to follow and indeed it gave the Group the prospect of diversification in what remain tender markets. I am happy to report that we have completed some complex negotiations with the result that AT Capital (Agrotrust) has been spun out of the EMAC Group. Matthew has agreed to remain as my Deputy Chairman and retains a place on the boards of the Illyrian Land Funds. On a very pragmatic basis we agree that EMAC and Agrotrust will collaborate wherever it is practical, and especially in the matter of sub advisory agreements featuring our local offices.
As for our own structure Matjaz Princic has become joint CEO/CIO of the EMAC Group and Andy Macleod has been promoted into the role of COO with specific responsibility for those matters which need a London focus. In order to save costs, which continue to be a major focus of our activities, we have moved into significantly smaller London offices."