3i appoint Philip Yea as Chief Executive

3i Group Plc has announced the appointment of Philip Yea as chief executive. He will succeed Brian Larcombe who is stepping down at the annual general meeting on 7 July 2004. Yea is currently a managing director at Investcorp, within its private equity business. He will take up the chief executive position soon after the 3i AGM in July on completion of various projects at Investcorp. Yea recently withdrew his name from the list of candidates to be the next chief executive of British Land Plc. Yea was finance director at Guinness plc from 1993-1997 and group finance director at Diageo from 1997-1999, from where he joined Investcorp. He is also a member of the board at HSBC and is the senior independent director at Manchester United Plc

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