3 April 2019
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.
“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.”
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CMC Markets plc
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Ed Gascoigne-PeesJennifer Renwick
Forward looking statements
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