London Capital Group Holdings PLC Directorate Change (5798J)
July 18 2013 - 2:00AM
UK Regulatory
TIDMLCG
RNS Number : 5798J
London Capital Group Holdings PLC
18 July 2013
London Capital Group Holdings plc
("LCG" or the "Company")
Directorate changes
The Company announces that Mark Slade has today resigned his
position as CEO of the Company for personal reasons. His
resignation will take effect immediately although he will remain as
a strategic adviser to the Company for the remainder of the year to
ensure a smooth transition period. He also continues to be a
shareholder in the Company.
The Board is pleased to announce that Kevin Ashby, 55, has been
appointed to replace Mark Slade as CEO with immediate effect.
Kevin recently joined LCG as Chief Commercial Officer and was
previously Chairman & Chief Executive of Saxo Capital Markets
and responsible for Saxo Bank's operations in Asia Pacific. He was
formerly CEO of Patsystems, a UK listed financial software company;
Chairman of Velsys, a trading systems supplier; and CEO of WISe,
the insurance e-commerce network. He was formerly an IT Partner and
CIO at KPMG. Kevin's appointment is subject to regulatory
approval.
Kevin has extensive knowledge of the retail derivatives industry
having held a number of senior roles both in the UK and
internationally.
The Board is also pleased to announce that it has further
strengthened the Company's management team with the appointment of
John Jones as Chief Operating Officer and Head of Risk Management.
John was previously European COO and Head of Risk at Liquid
Capital, a specialist derivative trading firm and prior to that he
held senior trading roles at both Bear Stearns and Citigroup.
John's expertise of trading, operations and risk management will be
of great benefit to those areas of the firm.
Giles Vardey, Chairman of LCG, said: 'The Board is sorry that
Mark has made this personal choice but we all respect the reason
for his decision. All members of the board wish him well and we are
pleased that we have been able to promote Kevin Ashby to CEO. Kevin
has a great deal of experience in our sector and has been a CEO in
the past. His strategic vision and skills will continue to drive
the improvements we are already making in the business. Kevin will
also lead a strengthened management team with a new COO in John
Jones.
Save as disclosed below there are no additional disclosures to
be made in accordance with paragraph (g) of Schedule 2 of the AIM
Rules in relation to Kevin Ashby.
Kevin Ashby has held the following directorships in the past
five years:
KD Advisory Limited*
London Capital Group Limited*
Velsys Limited
Syncova Solutions Limited
*current directorships
Kevin Ashby was a director of PatSystems plc between 11 December
2002 and 3 January 2006 which entered in to a scheme of arrangement
in 2003 in order to effect a distribution of excess capital to
shareholders and move the company's listing from the main market to
AIM.
Kevin Ashby was a director of Velsys Pte (Australia) a
subsidiary of Velsys Limited between 14 September 2010 and 4 July
2011 which was placed into administration in 2011. Velsys settled
with administrators in late 2012.
For further information, please contact:
www.londoncapitalgroup.com
London Capital Group Holdings plc
Giles Vardey
Chairman
020 7456 7000
Cenkos Securities plc
Nicholas Wells/Camilla Hume
020 7397 8900
Smithfield Consultants
John Kiely
020 7360 4900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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