July 14, 2009 – Phelps Capital Management’s Board of Directors today announced that Patrick Phelps has been elected as the Chairman and Yoshi Sato promoted to the position of Managing Director of Phelps Capital Management.
Phelps Capital Management’s newly elected Chairman, Patrick Phelps gave a few words on his appointment saying “Having been part of the original team since we started up in 1995, I am delighted to take up this position. I would like to extend my congratulations to Yoshi in his new position and my warmest thanks to our outgoing Chairman Adrian Wilkes for his many years of service.”
“Yoshi will fulfill the hands-on role of Managing Director, whilst Adrian will begin to enjoy his semi-retirement, whilst remaining a non-executive member of the board. Although we have moved positions, our strong working relationships will remain unchanged. The three of us have been working well together for the last several years, and we plan to continue working together for the foreseeable future. Keeping this management team in place has always been a top priority of mine” added Patrick Phelps, newly elected Chairman of Phelps Capital Management.
Phelps Capital Management’s outgoing Chairman, Mr. Adrian Wilkes who will remain on the Board of Directors commented on Patrick Phelps and Yoshi Sato’s appointments saying “Yoshi is an exceptional executive who has repeatedly demonstrated their ability to lead, manage and grow the company. At this time in his life, our founder Patrick Phelps is taking a step back from the day-to-day leadership of the company, which will enable him to focus on providing oversight and long-term strategy for the company in the future.
Commenting on his own retirement “I myself am looking forward to my retirement, although I am delighted to be remain as a member of the Board. The Board are thrilled that the best senior executive team we have at Phelps Capital Management will continue to move the firm forward into a bright future” added Adrian Wilkes, Phelps Capital Management’s outgoing Chairman.
Yoshi Sato, new Managing Director of Phelps Capital Management added “Having worked with Patrick and Adrian for the last few years, I can say that our exceptional team can only benefit us to take us to the next level. Obviously I am very delighted to be taking up the position of Managing Director. Going forward we will continue to build on this solid business platform as the Asian economy continues to expand further.”
Phelps Capital Management was founded in Tokyo in 1995 providing investment management services for clients ranging from sovereign wealth funds to private investors. The company acquired several boutique brokerages, asset management and equity trading firms throughout the Asia-Pacific region during the last 20 years.