IG Group officially announced this morning the resignation of its Non-Executive Director Sam Tymms. The move will take effect about a month from now when she steps down from her role after a Board meeting scheduled for the 20th of March
Tymms leaves the board of IG Group after 6 years during which she shared her expertise in the financial industry with the company. Before joining the brokerage she held a variety of roles at the UK FSA/FCA.
Tymms is said to be resigning to pursue other interests. During her tenure at the company, she was Chairman of the Board Risk Committee. Jonathan Moulds will be replacing her in the leadership role she is vacating.
Moulds has significant experience in the financial industry. During his career in investment banking, he was Group Chief Operating Officer at Barclays Plc and Chief Executive Officer of Merrill Lynch International.
His vast comprehension of the regulatory environment and knowledge of the financial industry are supporting his new Chairman position on the Board Risk Committee. He was also chairman of the International Swaps and Derivatives Association (ISDA) and a serving Advisory Board member of the Association for Financial Markets in Europe (AFME).
Changes at IG Group
IG Group has been facing a difficult year in light of the new regulatory framework in Europe. The company took on a new CEO after and was .
The company recently announced its , as the relative regulatory security of across the Atlantic made its move appealing despite the significant capital requirements to enter the retail forex market in the US.
Shares of IG Group are trading close to 52-week lows amid an increasing sentiment that the margins of the industry in Europe are going to get compressed further. Offshore competition in tandem with regulatory arbitrage has caused a flock of and .
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