Former Royal Mail CEO Rico Back joins Tiger Asset Management

[postareale]

https://www.lse.co.uk/news/moves-former ... 6xd4q.html

Former Royal Mail CEO Rico Back joins Tiger Asset Management

Wed, 7th Apr 2021 11:27
Thomson Reuters

* To take on chairman role with immediate effect

* Will help grow business in Europe

* Tiger AM focuses on equities in DACH region

By Simon Jessop

LONDON, April 7 (Reuters) - Former Royal Mail CEO
Rico Back has joined Swiss-based Tiger Asset Management AG as
chairman with immediate effect, the money manager said on
Wednesday.

Back will help support Tiger AM's growth as an institutional
investment advisory firm in Europe, Tiger AM said in a
statement.

Based in Pfaeffikon, Tiger AM was founded in 2008 and
manages around $100 million. It specialises in an absolute
return strategy focused on listed equities primarily in Germany,
Austria and Switzerland.

Back was CEO of UK postal service Royal Mail from 2018 until
standing down in May 2020 after a stint marked by battles with
unions over a proposed restructuring plan.

Before that he founded German Parcel, which was acquired by
Royal Mail and later rebranded as GLS, and ran it for almost
three decades.

"I am sure his support and extensive network across the
European business community will prove invaluable as we embark
on the next stage of our growth," Tiger AM founder Matthias
Rutsch said.

The firm's strategy, which focuses on undervalued companies
and bets on both rising and falling stock prices, saw strong
growth in 2020, with its B share class up 28.35%.

From 2008 until March 2021, it has delivered annualised
returns of 9.91%.
(Reporting by Simon Jessop; editing by Carolyn Cohn and Jason
Neely)

[Dorset Plodder]

I hope his next shite's a Hedgehog! Contemptible Man! Good Riddance to Bad Rubbish.

[yubin282]

I hope his next shite's a Hedgehog! Contemptible Man! Good Riddance to Bad Rubbish.

Can these greedy old bastards not just retire.

[Jonesy 1971]

The firm's strategy, which focuses on undervalued companies
and bets on both rising and falling stock prices, saw strong
growth in 2020, with its B share class up 28.35%.

Oh yes! Well we all know what he tried to do to under value RM stock don’t we!