Palace Capital Announces the Departure of CFO Matthew Simpson

Palace Capital PLC, the London-based commercial real estate investor, announced the departure of Chief Financial Officer Matthew Simpson as part of a cash-saving initiative.

Following Simpson’s departure, the financial operations of Palace Capital will be overseen by its financial controller and financial planning analyst. Executive Chair Steven Owen will provide operational guidance.

Simpson has been an integral part of the company for the past eight years, serving as CFO for the last two following his role as the company’s financial controller.

The decision to transition stems from Palace Capital’s current financial situation, which includes the cancellation of bank facilities and a reduced portfolio size. Consequently, the company finds the CFO position significantly reduced and believes that the level of expertise and skillset Simpson provides is no longer necessary.

This move aligns with the company’s strategy to emphasize cash returns to its shareholders, necessitating a shift in focus.

Simpson expressed his departure as an opportunity to seek new challenges after dedicating eight years to Palace Capital, particularly the last two as CFO. He noted the company’s robust financial standing with significantly reduced debt and leverage, affirming Palace Capital’s readiness to pursue its strategy of maximizing cash returns to shareholders. Simpson will conclude his tenure at Palace Capital by the end of this month.

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