Board Changes - Chief Financial Officer Appointment
RNS Number: 7545E
Released 12:21 20-Jul-2016
IG Group Holdings plc
20 July 2016
Further to the announcement made on 8 July 2016, IG Group Holdings plc ("IG"), a global leader in online trading are delighted to confirm that, following receipt of regulatory approval, its Chief Financial Officer (CFO) Designate, Paul Mainwaring has been appointed an Executive Director of IG Group Holdings plc and Chief Financial Officer with immediate effect and joins the Board of IG.
Paul was previously a Director of Tullett Prebon plc from 2006 to 2016. There are no further required disclosures under Listing Rule 9.6.13.
Paul Mainwaring will receive a basic salary of £400,000. He will be eligible to participate in IG's single incentive plan for Executive Directors known as the Sustained Performance Plan (SPP) with a maximum award of four times base salary for ‘stretch performance’ and an anticipated award of two times base salary at on-target performance. This is awarded in IG shares; a substantial proportion of these shares are deferred and vest over an extended period. Paul will also receive a pension and benefits allowance totalling 17% of base salary.
For full details of the SPP please, see the 2013 AGM proposals, which can be found here.
For further information, please contact:
Head of Investor Relations and Corporate Affairs 020 7573 0026
Neil Doyle / Ed Berry 020 3727 1141 / 1046
IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets - including shares, indices, forex, commodities and binaries.
Established in 1974 as the world's first financial spread betting firm, IG's aim is to become the default choice for active traders globally. It is an award-winning multi-platform trading company, the world's No.1 provider of CFDs* and a global leader in forex, and it now offers an execution-only stockbroking service in the UK, Australia, Ireland, Germany, Austria and the Netherlands.
It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific, the Middle East and the US, where it offers limited risk derivatives contracts via the Nadex brand.
*Based on revenue excluding FX, from published financial statements, September 2015.