Real Estate Credit Investments PCC Limited announced that the Chairman would not be seeking re-election at the annual general meeting of the company to be held in 2015 and that the Board of Directors of the Company would be undertaking a search for a successor, the Board of Directors are announced the proposed successor to the current Chairman. Bob Cowdell will be appointed to the Board of Directors of the company as an independent Non-Executive Director with effect from 1 June 2015, subject to the required Guernsey regulatory approvals. He will take over as non-executive chairman, following the release of the Company's results for the year ended 31 March 2015, on or around 12 June 2015.

Bob Cowdell is an independent non-executive director who has focused on the financial sector throughout his career; initially as a solicitor and then as a corporate broker and adviser. He was previously co-founder and Head of the ABN AMRO Global Investment Funds Team and then Head of Financials at RBS Hoare Govett. He is currently a non-executive director of Schroder UK Growth Fund plc, Catlin Underwriting Agencies Limited and Catlin Insurance Company (UK) Limited.