Kingsbridge top team in shake-up

FINANCIAL adviser to top footballers, Kingsbridge Holdings, is looking for a new finance director as part of a major management shake-up.

Incumbent Eric Cater will stay on until a replacement is found before moving to a non-executive position. Joint managing director Kevin McMenamin, who owns almost 10% of the group, and fellow director John Murray, who holds a 3.6% stake, are stepping down from the board but remain with the company. Former NatWest Markets corporate financier Michael Frank joins as a non-executive.

The changes come as the group unveiled interim pre-tax profits to 28 February up 42% to £565,000 on acquisition-enhanced sales up 204% to £6.91m. Cash reserves are down to £190,000 but chief executive Martin Greenwood is hungry for more acquisitions.

Kingsbridge's football clients are largely Premiership and First Division. Despite a slower-than-expected move into the entertainment sector, Greenwood believes the outlook for the rest of the year is satisfactory.