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ODL clarifies board changes

A few weeks ago, ODL Securities changed its management structure. In its wisdom, it felt that this was not newsworthy enough to tell many people, which lead to gossip that Graham Wellesley and Lorenzo Naldini had somehow lost power and influence at the company.

This week, Wellesley called to explain that he had also heard the rumours and that they were poppycock. He explained that the only way he will leave is if he decides to or if he is imprisoned – two events that he said are unlikely. As for Naldini, Wellesley said they have been working as double act since 1994 and there is no plan a break up a successful partnership.

Wellesley said he and Naldini prefer client-facing roles to being tied up in the day to day running of the company. As a result, it was decided to appoint Giles Elliott as the company’s chief executive. Elliott is by no means a stranger to ODL, having sat on its board for several years. “We wanted to put in place professional management who knew the business inside out,” explained Wellesley, who now holds, along Naldini, the title of vice-chairman.

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