London-based trading provider CMC Markets (LSE: CMCX) has parted ways with its long-serving executive, David Worsfold, who had been with the company for more than 10 years.
“Dave Worsfold decided to leave CMC Markets in July after 10 years at the company, we wish him well in his future career,” the UK spread better told Finance Magnates.
Dave had originally joined CMC Markets in 2010 as Head of Operations. During this long stint, he worked his way up through several senior roles with the firm, culminating with his last position as director of operations in June 2019.
Prior to CMC, Worsfold spent 15 years of his tenure at Ross Capital and its associated brands, Ross Global Markets, IAM Holdings, International Asset Management Ltd, EBT Holdings, between 1993 and 2008. During this time, he held many roles including the COO and CEO at the Bermuda-registered private investment company. This was preceded by 4 years at HSBC.
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CMC Markets Shines in 2020
In order to fill the void, CMC Markets has promoted another long-time employee, Neil Vinall, as the new head of operations. Vinall has spent all of his 16-year career with the UK broker, having held various roles including leading CMC’s regulatory reporting, post-trade services, payments, and reconciliations.
Prior to his most recent elevation, Neil was heading the UK business operations of the broker for nearly 10 years.
CMC had strong underlying performance in the business throughout the year, which was enhanced by increased market activity in the final quarter. The company saw its shares shine earlier this year as the online trading platform operator doubled its annual net trading revenue in the first quarter, bolstered by the coronavirus-induced volatility.
This solid performance led CMC to get inducted into the FTSE 250, an index which measures the largest companies on the London Stock Exchange. The FTSE 250 Index is a capitalisation-weighted index, and lists the largest 101st to the 350th publicly quoted companies in the UK market.