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BRIEF-Atlas Mara announces board changes to boost core stratergy
February 16, 2017 / 8:19 AM / 7 months ago

BRIEF-Atlas Mara announces board changes to boost core stratergy

Feb 16 (Reuters) - Atlas Mara Ltd:

* Announces measures to accelerate its strategic execution of its three core areas: commercial and retail banking, fintech, and markets and treasury

* Plans to significantly reduce operating expense and staff cost at center by more than $20 million per year on an annualised basis

* Sanjeev anand will become group managing director for retail and commercial banking

* Mike Christelis, will become group managing director for markets and treasury, and Chidi Okpala, group managing director for fintech

* Effective 15 February, John Vitalo stepped down as CEO and from board

* Board will appoint a new group ceo in due course.

* To seed its fintech and global markets business, and for general purposes, co successfully closed an oversubscribed equity raise via share placing

* Over 90 pct of this offering was subscribed by our existing shareholders, as announced to market earlier today

* Atlas Mara expects its 2016 full year earnings to be broadly in line with market expectations Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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