IG Group has promoted Dan Boneham to take on the role of its Head of Investment Products and Trading Platforms. Boneham, who until recently was IG’s head of equity, has originally joined the CFDs broker back in 2008 as a consumer insight manager.
During this long stint, he worked his way up through several senior roles with the firm.
Prior to his elevation, Dan was tasked with the company’s share dealing and smart portfolio product range. He led IG’s product development, including a new platform, implementation of fresh products and features to help attract and retain clients.
In April 2018, Boneham held an interim role during IG’s restructure, where he was asked to lead the client technology departments. According to his Linkedin profile, he was responsible for over 100 it developers and data scientists, spanning across different teams including, client onboarding, website development, payments, salesforce, and IG’s client portal.
Boneham kicked off his financial career as in market research roles, dating back to 2004.
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Boneham’s promotion could be crucial as clients of IG Group recently reported problems using its trading terminals. Several users complained about problems logging into or using the broker’s platforms, which experienced temporary outages.
The spread better, however, said last month it expects to post higher-than-expected revenue for its 2020 financial year, due to elevated market volatility created by the Covid-19 pandemic.
Glitches that kept clients from trading on historic market moves are becoming widespread and common. Earlier in March, the Robinhood investment app experienced a system-wide outage, and clients had difficulties accessing their accounts over two consecutive days due to higher-than-usual trading volumes.
The lack of access and trouble trading also comes during a stressful period for other US brokers. Fidelity, TD Ameritrade and Charles Schwab, experienced similar issues in March also amid heavy trading volumes.
Not only retail platforms were affected by these factors, however. Two trading platform failed at JPMorgan Chase & Co in April when the financial markets were in chaos.