Investments  

Electra appoints CFO amid review

Electra appoints CFO amid review

Electra Private Equity has appointed a chief financial officer as activist investor Edward Bramson continues to shake up the investment trust.

Gavin Manson, who is currently finance director at Thomas Cook Group’s tour operations and hotels and resorts division, will join in the new role at Electra on August 8.

His appointment comes as part of an ongoing strategic review of the trust prompted by interim chief executive Mr Bramson, who joined the board in November 2015 following a campaign to overhaul the company.

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In May this year the board of Electra Private Equity trust served notice to Electra Partners, a separate entity with which it has a management and investment agreement.

In a statement the trust said Mr Manson’s role will be to support the board with the review, while putting in place financial reporting and analysis systems and processes for the long term.

Neil Johnson, chairman of Electra Private Equity, said: “This is an important new role and Gavin’s extensive financial experience within public companies will enable him to make a significant contribution to our business both during and after the review period.”

Electra Private Equity is a member of the Investment Adviser 100 Club 2016, the first time it has appeared in the list.