William Mead announced on LinkedIn today (Monday) that he has taken on a new role as Head of Operations at IG Group.

From Trading to Operations

Mead previously worked at IG Group in various positions. From October 2019 to August 2024, he was the Head of Trading Operations. Before that, from January 2017 to October 2019, he served as the Global Head of Credit and Client Money Client Money Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Read this Term. Both roles were based in London.

He noted on the post: “I’m happy to share that I’m starting a new position as Head of Operations at IG Group.”

Earlier in his career, Mead worked at Thales as a Bid and Project Manager from April 2008 to May 2011.

IG Drops PayPal for UK Users

IG has announced on its community forum that PayPal will no longer be available as a payment method for UK users, as reported by Finance Magnates. This change follows discussions with the Financial Conduct Authority (FCA), prompting IG to update its payment options.

UK users will need to use alternative methods to fund and withdraw from their accounts. IG recommends Apple Pay, noting its instant transactions and high authorization rates for a seamless experience.

An IG administrator commented, “After discussions with the FCA, we have updated our payment methods. We recommend Apple Pay for its instant transactions and high authorization rates.”

Users with questions about this change are encouraged to contact IG directly.

In other news, IG Group’s three UK subsidiaries have released their FY23 financial results. According to Finance Magnates, two companies reported declines, while one saw improved profitability.

IG Markets Limited saw trading revenue drop to £405.2 million from £453.6 million, with net profit decreasing to £171.3 million from £188.2 million due to inflation and market volatility.

IG Index Limited reported a reduction in net trading revenue to £236.5 million and net profit falling to £102.5 million. Conversely, IG Trading and Investments, established in August 2022, achieved a net profit of £9.17 million, up from a near £800,000 loss, with total equity rising from £3.5 million to £20.7 million.