Thursday, 3 September 2009

Jon Moulton resigns from Alchemy

(By Richard Holway 5.00pm Thursday 3rd Sept 09) The surprise resignation of Jon Moulton from Alchemy has just been announced. You can read his resignation letter here.

Basically there seems to have been a major disagreement between Mouton and the other partners. Parter Dominic Slade wishes to convert the firm to a specialist financial services firm. Moulton neither supports this or the elevation of Slade to lead the firm. So Moulton has tendered his resignation and clearly wants to get out in the fastest time possible. Indeed, he wants to see the firm woundup. The letter is pretty vitriolic.
I've known Jon for a long, long time - since his time at Schroders before he left to setup Alchemy. Jon has made many investments in the SITS sector that we cover. Radius, Phoenix, Sanderson (Civica, Talgentra, Tallyman and the 'new' Sanderson), Datapoint, INSTEM and, of course, Cedar/COA Solutions. I've always rated him - not least for his ability to call a shovel a bloody spade.

I sensed that Jon wasn't overly happy with events at Alchemy. But the manner of his going was a shock to me. I both doubt and hope that we haven't heard the last of Jon. The world would be a duller place without him.

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