IG Group (LON: IGG) has ended its search for a new Chair by announcing Andrew Barron for the role. He has been appointed as Board Chair Designate and Non-Executive Director of the Group.
A Hard-to-Find Replacement
The announcement came after Mike McTighe confirmed his retirement from the role of IG Chair in September 2025.
Although McTighe was due to step down by the end of 2025, the company failed to find his replacement within the specified timeframe, forcing him to remain in the role until his successor was appointed.
McTighe’s tenure as IG’s Chair began in February 2020. He will remain in the role “until the necessary regulatory approvals have been obtained to ensure an orderly transition”.
Barron, meanwhile, is not from the trading industry. He spent his 25-year career in the technology, media and telecommunications sectors. He is currently a non-executive director at Openreach and Verisure and is also Senior Operating Partner at Stonepeak Infrastructure Partners.
“IG has established an attractive position in global financial technology, and the potential to drive further growth and transformation is significant,” Barron said.
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A Positive Moment for IG
The Chair transition is taking place at a time when IG Group's shares are expected to enter the FTSE 100 from the FTSE 250. The broker's shares are also attracting large institutions, as the US asset management firm Capital Group acquired a substantial 5 per cent stake after a similar investment in Plus500 last year.
Meanwhile, IG is also shifting its focus towards the cryptocurrency market. It is already offering spot crypto trading in the UK through a third-party partnership and has also acquired a crypto exchange to offer “crypto products” in the Asia-Pacific and Middle East regions.
The London-listed broker is also running bold marketing campaigns, first with Pat Cash in response to increased incentives on cash ISAs, and now launching a Fat Cat Index to check whether UK investors are paying extra fees on investment platforms.
