IG Group on Friday announced an executive reorganization that the company says would better position the UK-based FX broker for the future, as the online trading sector deals with a tough regulatory crackdown.
The major part of the changes concerns the group’s chief information officer Jon Noble, who has been promoted to take on the role of Chief Operating Officer (COO) with immediate effect.
The FTSE 250 company has detailed in its filing with London Stock Exchange the new responsibilities that Noble be tasked with. In his new capacity as COO, he will be in charge of trading and operations, and will also chair a number of the company’s management committees.
Jon Noble has nearly two decades of experience in the financial industry, having held various positions within IG Group. He started his career with IG as a futures dealer and soon moved on to roles such as the head of futures trading, dealing director, and dealing and operations director. Prior to his promotion, he has served as CIO since 2012, where he was responsible for all IT functions in IG Group.
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IG axes executives as it restructures
The spread better’s CEO June Felix said in an announcement to staffers that the executive moves will allow IG to achieve its new operational strategy through a number of changes to the organization structure and the group’s executive committee.
She further added that IG’s chief commercial officer Bridget Messer and chief financial officer Paul Mainwaring would maintain their executive directorship status in their current roles.
Commenting on Noble’s change of role, IG CEO said: “Jon has all the skills needed to excel in this new role which has been created to help drive the delivery of our newly announced strategy. I look forward to continuing to work together to further our strategic aims.”
IG, Britain’s biggest player in spread betting sector with a 40 percent share of the market, has undergone several management changes over the last few months. In April, its long-serving Chairman Andy Green said he would step down in September after spending over five years in the role. Earlier in October 2018, it appointed June Felix, who has been a non-executive director of IG since September 2015, to become its first ever female CEO.