Spread betting and contracts for difference (CFD) provider IG Group has appointed the third non-executive director to its board this year, namely since the arrival of Chairman Mike McTighe in February.
Following the arrival of Helen Stevenson in March and Rakesh Bhasin in July, the FCA-regulated broker has lured Wu Gang who brings three decades of expertise and knowledge of both European and more especially Asia markets.
Mr Gang has been an investment banker since 1993, having held senior positions in Chinese, American and British financial institutions. He is currently a Non-Executive Director of Ashurst LLP and senior adviser to Rothschild & Co Hong Kong Limited. Further, he was previously managing director and head of corporate finance for Europe at CLSA Securities, the international investment banking platform of CITIC Securities.
Other stops include senior level positions at ICBC International, Royal Bank of Scotland, HSBC and Merrill Lynch in Hong Kong and London. Additionally, he worked for Goldman Sachs and Hill Samuel Bank in his earlier career.
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Earlier in March, the online trading provider appointed Helen Stevenson as a Non-Executive Director who has been made a member of IG Group’s Remuneration Committee. This move was followed by the appointment of Rakesh Bhasin in an analogous role, and she was also added as a member of the Environmental, Social and Governance (ESG) Committee.
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Commenting on the appointment, Company Chairman Mike McTighe said: “Following an extensive, externally facilitated search I am delighted to welcome Wu Gang to the Board. He has significant experience in global banking institutions and has valuable knowledge of the business environment in Asia. Wu Gang will complement and further diversify the skills, knowledge and experience of the Board.”
Wu Gang said: “IG Group is an innovative financial services organisation with an exciting growth strategy and the capability to perform well in the current global economic environment. I’m looking forward to working with the Board and the management team to realise further the potential of the business.”
Earlier this month, IG Group Holdings PLC (LON:IGG) reported solid revenues for the first quarter of its fiscal year. The broker took in revenue of £209.0 million, which is up 62 percent from £129.1 million in the corresponding period for last year.
The vast majority of IG’s proceeds came on from over-the-counter leveraged trading products, which includes contracts for difference and spread betting.