The global provider of online trading CMC Markets Plc (NYSE:CMC) just announces a number of changes to its Board of Directors.
Grant Foley, Chief Operating and Financial Officer, has resigned CMC to pursue other opportunities. He has been with CMC for more than 6 years and has been a part of the Board since 2013. He will remain with the group for half a year on to ensure a smooth transition and will stay on the Board.
Grant Foley, Chief Operating and Financial Officer said:
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.
CMC Markets has also proposed to appoint Matthew Lewis, Head of Asia Pacific and Canada, to the Board, subject to FCA approval. He has been with CMC’s Australian business for over 13 years and has been instrumental in leading CMC’s transformational ANZ Bank white label stockbroking partnership.
David Fineberg, currently Group Commercial Director, will also be appointed Deputy Chief Executive Officer with immediate effect. Fineberg has been with 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.