UK-based multi-asset financial services firm, London Capital Group (LCG), has reported that its Chief Operating Officer (COO) has left the company. The company issued a statement today and has confirmed that the resignation will take effect immediately.
John Jones, the firm’s COO joined LCG in July 2013, in the official notification, LCG states that Mr Jones will continue to cooperate with the firm as “an advisor to the Company to ensure a smooth transition.”
Mr Jones, pictured, an experienced professional, has been active in financial markets for over three decades. According to this LinkedIn profile, he has worked as a trader and risk manager at various international banks and brokerages including, Citi Bank, Liquid Capital Group and Arian Financial.
LCG was not available for comment, however in the notification LCG states: “The Board would like to thank John for his hard work and contribution to the Company.”
LCG has witnessed a number of senior management changes over the course of the year, on the 18th of July, 2013, the firm reported that its former CEO Mark Slade had resigned. He was replaced by the firm’s Chief Commercial Officer, Kevin Ashby.
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The ‘C’ level changes have come on the back of recent news that the company has accepted financing. The financier, GLIO Holdings Ltd, is headed up by industry veteran Charles-Henri Sabet who has involvement in the FX industry as a board member of JFX.com.
A London-based compliance consultant explained to Forex Magnates that regulators view management changes with a pinch of salt.
He continued, on the basis of anonymity, that several FX and CFD brokers including Alpari UK, have been contacted by the financial watchdog in regards to top level management changes over the past 18 months.