Continuing our exclusive coverage of all the recent changes at some of the UK’s leading online brokerages, LeapRate has learned that the Chief Operating Officer of London Capital Group Holdings plc (LON:LCG), Arman Tahmassebi, is departing the company just as it gears up to market the ‘new LCG’.
LeapRate had broken the story two weeks ago of London Capital Group’s rebranding to LCG, alongside a new logo, website and trading platform for the FCA-regulated spreadbetting and Forex/CFDs broker.
Tahmassebi had been a very important part of the makeover at LCG. While his title was COO, his main function was to oversee the technology and platform side of things at LCG, which as per above was totally redone following the sale of control of LCG to Charles-Henri Sabet and his investment group in late 2014. He also acted as Mr. Sabet’s #2 in managing the personnel changes throughout LCG, and the technology acquisitions done by LCG recently such as the purchase of Surecom from Spotware.
Tahmassebi was one of the first outside executives to join LCG after the takeover. He left his job at LCG rival IG Group Holdings plc (LON:IGG) to join LCG. At IG, Tahmassebi acted as Global Head of Operations.
To replace Mr. Tahmassebi, LCG has stayed internal (at least for now), promoting head of infrastructure Blair Wright to a new position as Chief Information Officer. Also, former head of IT development Gleb Kaplan was named LCG’s new Chief Technology Officer.
Arman Tahmassebi had the following to say to LeapRate about his departure:
I’m very pleased with what has been achieved in a very short period of time. LCG has successfully launched a new brand, website and industry leading trading platform and I’m proud to have been a significant part of that. I would like to thank Charles for the opportunity and support over the past year. I am leaving the company in good shape and in the hands of a great team.
LCG CEO Charles-Henri Sabet added:
We would like to thank Arman for his dedication, hard work and unmatched expertise over the past 12 months. Having delivered a top level trading platform he leaves the company well-positioned for future growth with a very strong product set. We wish him well for the future.
We shall now continue to progress the delivery of a new range of sophisticated investment and trading products using the best in responsive technology platforms to the benefit of our existing clients and in support of our expansion into new markets. We continue to invest in quality staff, ensuring we can deliver an institutional level of service and product in response to client demand and position the Group for a return to sustainable growth at all levels of the business.