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Wednesday, 18 February 2009

From: Eidur Helgusson (
Sent: 18 February 2009 10:36
To: AllStaff

Dear all,

I am writing to inform you of the regrettable news that Paul Cleese's consultancy working with Shaft has come to an end. Paul has been embedded in the management team since last February, and has contributed a great deal to our business, instrumental as he was in the back-office synergies created in the Swindon and Reading offices, not to mention his pivotal role in synthesising new e-strategies for the business in coalition with Steve Mason and the rest of the IT team. It is with heavy hearts, then, that we have decided to bring his consultancy to an end, due to the current difficult market conditions and a pending police investigation.

You will also be aware by now that I am stepping down as MD at the end of February. I have had a memorable three years with the company since stepping in after Jeff Shaft's tragic and unexpected massive coronary back in March 2006. I will be returning home to Iceland to take up a new challenge, working with the government in Reykjavik to rebuild the country's shattered economy. I'm sure I will be able to draw upon a lot of the valuable lessons that I have learned from you, my friends and colleagues at Shaft Capital! Tony Marsh will be replacing me, who many of you will know from his previous spells at the company. Tony has worked in the financial and construction industries for close to three decades, and can count among his recent achievements a key role in the building of the world's largest artificial outdoor ice rink in Abu Dhabi, a director's position at Lehmann Brothers, and 18 months on the Treasury select committee under the Major government. I wish him every success at Shaft, and I hope you'll all make him feel very welcome. I suggest a 10-year single malt as a start!


Eidur Helgusson

Managing Director

Shaft Capital