Appoints Mr Philippe Paillart as New Chairman
London, May 31, 2012 AEST (ABN Newswire) - Millhouse, Inc. PLC (
M77:FRA), the Deutsche Börse listed financial services group, has announced that Mr Philippe Paillart will lead the board as Chairman.
Mr Paillart is based in Paris. His career highlights in international banking include: Chief Executive and Vice Chairman of the DBS Group, the largest bank in SE Asia; President of Ford Financial (formation of the largest global leasing franchise); Chairman, President & CEO of Ford Credit; Executive Director of Standard Chartered Bank (built the global retail business); and a career at Citibank where he developed the Diners Club franchise, was head of strategy for KKK Bank (Germany), and Group General Manager International Personal Banking (Founder of the Global Franchise for upscale customers).
Millhouse, Inc. PLC said in the announcement that this was a significant appointment and that Mr Paillart has the experience and the international network to lead the company in the implementation of its vision.
Mr Paillart said from Paris that he had known and worked with the Chief Executive, Mr David Millhouse since 2002 and looked forward to making Millhouse, Inc. PLC a highly profitable and successful company for its shareholders.
Millhouse, Inc. PLC intends to complete EBITDA accretive acquisitions in private banking, wealth management, investment, asset and funds management and private equity and debt markets. The positive cash flow from the acquisitions would be used for additional acquisitions as the company embarks on a rapid expansion phase in 2012-13 and for debt retirement as appropriate. The company will also be sponsoring new IPO's on Deutsche Börse as part of its private equity strategy.
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