TIDMCMCX
RNS Number : 9545U
CMC Markets Plc
03 April 2019
3 April 2019
CMC Markets Plc
Director Changes
CMC Markets Plc (LSE: CMCX, "CMC" or the "Group"), a leading
global provider of online trading, today announces a number of
changes to the Board of Directors.
Grant Foley, Chief Operating and Financial Officer, has informed
the Board of his intention to leave CMC to pursue other
opportunities. Grant has been with CMC for six years, having been
appointed to the Board in 2013, and has been instrumental in taking
the company from private to public ownership, and in guiding the
Group through regulatory changes. Grant currently intends to remain
with the Group for the next six months to ensure a smooth
transition and he remains on the Board. During that time, the Board
will run a rigorous process to find a replacement for Grant,
including evaluation of both internal and external candidates.
The Group would also like to announce today other management
changes. As the Asia Pacific business becomes an increasingly
important part of the Group, the Board proposes to appoint Matthew
Lewis, Head of Asia Pacific and Canada, to the Board, subject to
FCA approval. Matthew has been with CMC's Australian business for
over 13 years in various trading and commercial roles across the
Asia Pacific region and has been instrumental in leading CMC's
transformational ANZ Bank white label stockbroking partnership.
Separately, David Fineberg, currently Group Commercial Director,
will be appointed Deputy Chief Executive Officer with immediate
effect. David's appointment is in recognition of his position as a
senior leader of the business and the continued expansion of his
role and responsibilities. David has worked for CMC for over 20
years in a number of trading roles before being appointed to the
Board as Director of Trading in 2014 and subsequently Group
Commercial Director in 2017.
Peter Cruddas, Chief Executive Officer commented:
"Grant has been an integral part of CMC's development over the
last six years, including the 2016 IPO, and he leaves the Group in
a strong position. I wish Grant the very best for the future and I
would like to thank him for doing an excellent job.
"Following the successful integration of the ANZ Bank
stockbroking white label transaction, our Asia Pacific business is
now a much more meaningful part of the overall Group. Having played
a key role in developing this business, the Board believes that now
is the right time for Matthew to join the Board, with him providing
a deep market understanding to support further growth in the
Region.
"I am extremely pleased and excited for David in his new role
and I look forward to working alongside him to develop the business
over the coming years. His insights and understanding of this
business and our markets after 20 years at CMC are second to none
and he thoroughly deserves this new role."
Grant Foley, Chief Operating and Financial Officer
commented:
"Having joined CMC ahead of preparations for the IPO, the
business has transformed completely over the six years I have been
CFO and COO. Now we have begun to see a stabilisation of client
behaviour post ESMA, I feel the business is on a strong footing and
it is time to hand over to someone else to take the business
forward on the next leg of its journey."
Enquiries
CMC Markets Plc +44 (0) 20 7170 8200
investor.relations@cmcmarkets.com
Camarco +44 (0) 20 3757 4980
Geoffrey Pelham-Lane
Ed Gascoigne-Pees
Jennifer Renwick
Forward looking statements
This trading update may include statements that are forward
looking in nature. Forward looking statements involve known and
unknown risks, assumptions, uncertainties and other factors which
may cause the actual results, performance or achievements of the
Group to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Except as required by the Listing Rules and
applicable law, the Group undertakes no obligation to update,
revise or change any forward looking statements to reflect events
or developments occurring after the date such statements are
published.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is considered to be in the public domain.
Notes to Editors
Grant Foley
Grant remains on the Board of Directors and in accordance with
the Listing Rules, an announcement will be made when a date for him
to step down has been determined.
Matthew Lewis
Matthew Lewis serves as the Head of Asia Pacific and Canada at
CMC Markets Plc. Matthew is responsible for implementing CMC's
business strategies across the Asia Pacific region for both retail
and institutional CFD and foreign exchange business. He is also
responsible for CMC's Australian stockbroking business. Matthew
joined CMC in September 2005 and has held a variety of roles
including Senior Dealer, Head of Eastern Equities, Head of Sales
Trading ANZ, Head of Trading Eastern Region and Director of Asia.
Prior to joining CMC, he worked for Commonwealth Securities,
Australia's largest provider of retail financial services, dealing
in equities before moving into derivatives as an options trader and
warrants representative.
David Fineberg
David joined the Group in November 1997 working on the trading
desk and developed the Group's multi asset CFD and spread bet
dealing desk. As a senior dealer he was responsible for managing
the UK and US equity books. Between April 2007 and September 2012
he was the Group's Western Head of Trading, covering all asset
classes for the western region. In September 2012 David was
appointed to the role of Group Head of Trading and in January 2014
was appointed as the Group Director of Trading, with overall
responsibility for the trading and pricing strategies and
activities across the Group. In June 2017 his role further expanded
when he became Group Commercial Director.
About CMC Markets plc
CMC Markets plc, whose shares are listed on the London Stock
Exchange under the ticker CMCX (LEI: 213800VB75KAZBFH5U07), was
established in 1989 and is now one of the world's leading online
financial trading businesses. The company serves retail and
institutional clients through regulated offices and branches in 14
countries, with a significant presence in the UK, Australia,
Germany and Singapore. CMC Markets offers an award-winning, online
and mobile trading platform, enabling clients to trade up to 10,000
financial instruments across shares, indices, foreign currencies,
commodities and treasuries through contracts for difference
("CFDs"), financial spread bets (in the UK and Ireland only) and,
in Australia, access stockbroking services. More information is
available at http://www.cmcmarkets.com/group/
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END
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