New CFO, CEO wanted

IG Group CFO Parts Ways with the Company

Chris Hill will take up the position of CFO at another online broker, Hargreaves Lansdown.

IG Group’s (LON:IGG) Chief Financial Officer (CFO) Chris Hill will officially leave the company, effective October 30, to take on the same role at Hargreaves Lansdown.

Hill, however, will continue to work as CFO at the online broker either until February next year, when his notice will expire, or until his former employer finds a replacement, which should take place before February of 2016.

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IG Group planning to push further into unleveraged products

Hill, who has been with IG Group since 2011, announced his decision to leave the broker in August. The company said in a statement that its management agreed with his intentions in light of its strategy to push forward further into unleveraged stockbroking and investment services. The statement added that the broker is currently looking for a replacement.

This is the second recent departure of a top executive, following the retirement of Chief Executive Officer (CEO) Tim Howkins, which was announced two weeks ago at the company’s annual general meeting. Until a new CEO is appointed, the position will be filled by board member Peter Hetherington.

IG Group’s latest financial statement reflected its drive towards an expansion of its services, with 2015 profits remaining flat, despite a healthy 8 per cent increase in revenues.

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