DSW Dsw Capital Plc

11 June 2024

DSW CAPITAL PLC

("DSW Capital", "DSW" or the "Group" or the "Company")

(AIM: DSW)

Appointment of Deputy CEO

DSW Capital, a profitable, mid-market, challenger professional services licence network and owner of the Dow Schofield Watts brand, is pleased to announce that Shrutisha Morris ("Shru") will join the Board as Deputy CEO on 1 August 2024.

Shru is a highly experienced finance and business leader, with considerable experience in M&A. She spent seven years at the law firm Napthens, joining as FD in 2014 before being appointed CEO in 2017. During her tenure, she was responsible for setting the firm's overall growth strategy, helping to increase revenue and profitability, strategic recruitment, increasing the firm's profile nationally and expanding the firm's services both organically and through acquisitions. Most recently, Shru was CFO at Pick Everard, a national multi-disciplinary consultancy working within the property, infrastructure and construction industry, where she was responsible for working with stakeholders across the group to drive change, business performance, and financial governance. Shru is a qualified accountant, having spent eight years at Bowmans and Baker Tilly (now part of RSM) at the start of her career.

James Dow, Chief Executive Officer, said:

"We are delighted to have found such an excellent candidate to fulfil the role of Deputy CEO. Shru is highly experienced in professional services, specifically law, which is an area of strategic interest to DSW. Alongside her proven finance and management expertise, Shru has a passion for recruitment and a track record of helping people develop their careers. She understands the importance of empowering people to take charge of their own destiny, which lies at the heart of our culture.

"I would like to welcome Shru to DSW Capital. I am very much looking forward to working with her, as we continue to build and expand the DSW Network. I am confident that she will play a vital role in the growth, leadership, and future development of the Group."

Further information relating to Shrutisha Morris:

The following information regarding the appointment of Shrutisha Gautum Morris (nee Chikhalikar), aged 46, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Current directorships and/or partnerships:

·  None

Former directorships and/or partnerships (within the last five years):

·  Afterathena Limited

·  Gradtouch Limited

·  Graduate-Jobs.com Limited

·  Lancashire Searches Limited

·  Napthens Wealth Management Limited

·  Smart Resourcing Solutions Limited

There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Enquiries:

Notes to Editors  

About DSW Capital

DSW Capital, owner of the Dow Schofield Watts brand, is a profitable, mid-market, challenger professional services network with a cash generative business model and scalable platform for growth. Originally established in 2002, by three KPMG alumni, DSW is one of the first platform models disrupting the traditional model of accounting professional services firms. DSW operates licensing arrangements with 25 licensee businesses with 107 fee earners, eleven offices across the UK. These trade primarily under the Dow Schofield Watts brand.

DSW's vision is for the DSW Network to become the most sought-after destination for ambitious, entrepreneurial professionals to start and develop their own businesses. Through a licensing model, DSW gives professionals the autonomy and flexibility to fulfil their potential. Being part of the DSW Network brings support benefits in recruitment, funding and infrastructure. DSW's challenger model attracts experienced, senior professionals, predominantly with a "Big 4" accounting firm background, who want to launch their own businesses and recognise the value of the Dow Schofield Watts brand and the synergies which come from being part of the DSW Network.

DSW aims to scale its agile model through organic growth, geographical expansion, additional service lines and investing in "Break Outs" (existing teams in larger firms). The Directors are targeting high margin, complementary, niche service lines with a strong synergistic fit with the existing DSW Network.