The Chief Financial Officer (CFO) of IG Group, Paul Mainwaring, has informed the Board of his intention to retire, the online trading provider announced this Tuesday.
Mainwaring first became a Finance Director in the year 2000 at TDG Limited, a goods transportation, distribution, warehousing, and supply chain management company based in England.
Therefore, the year 2020 marks 20 years for Mainwaring as a United Kingdom plc Finance Director – a notable achievement. According to a statement filed through the London Stock Exchange (LSE) today, Mainwaring has told the Board that he has decided to step down from executive roles as he approaches this milestone.
The exact date of Mainwaring’s departure hasn’t yet been confirmed. IG Group has said that the date will be announced: “in due course.” Now, the company is focusing on starting the process to identify a successor, which is underway with the assistance of an external firm.
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In the meantime, in order to ensure a smooth transition, Mainwaring will continue in his role as CFO and Executive Director, which he has held since 2018, according to his biography on Bloomberg.
During his career, Mainwaring has held a number of top roles at financial firms. Namely, he was a Finance Director at Tullett Prebon PLC, New Cst PLC, and Collins Stewart Tullett PLC, among others.
In addition to announcing Mainwaring’s departure, IG has also posted its interim results for the first half of its 2020 fiscal year. As Finance Magnates reported, the company reported net trading revenue of £249.9 million for the period.
In the report published by the trading provider, June Felix, Chief Executive of IG Group, also commented on Mike McTighe starting his role as Chairman of the Group in February.
Mike McTighe begins as IG Group chairman
“We are now six months into the delivery of our multi-year strategy and are on track to deliver on the medium-term growth targets we have set ourselves. Early indications are very encouraging with continued growth in the client base in our Core Markets, and convincing progress in the areas identified as Significant Opportunities. I am very much looking forward to continuing the delivery of our strategy, and also to welcoming Mike McTighe as Chairman of IG Group in February.”