AssetCo deputy chair Peter McKellar retires as group withdraws from infrastructure business

Will remain a 'significant shareholder'

AssetCo has lost its deputy chair Peter McKellar, who is retiring from the board following the firm's decision to exit its infrastructure business.

In a stock exchange notice on Tuesday (16 April), the firm said McKellar will retire as a director on 30 April to focus on his other non-executive director roles. His decision to resign from the board followed AssetCo's announcement in October last year that it would sell its stake in River and Mercantile's infrastructure investments business (RMI) to its chief Ian Berry, alongside its other two existing partners. AssetCo losses triple to £26.7m in 'exceptionally difficult' year The firm said the sale, expected to complete at the end of this month, would enable the group to focus o...