Alpha FX Group (LON: AFX), a provider of FX risk management, accounts and payments solutions to corporates and institutions, announced the appointment of Tim Powell to its team. Powell will serve as the Chief Financial Officer (CFO) and an Executive Director of the Board.
He will replace Tim Kidd as the CFO who announced his plans to retire in January 2022. Kidd will also leave the Board on 1 December 2022, making a place for the new CFO but will continue to support the company's operations until the full 2022 financial report is published.
"Tim Powell's appointment followed a meticulous selection process, and the advance notice of Tim Kidd's retirement gave us the opportunity to cast the net far and wide and conduct a thorough and detailed search for his replacement. We were very impressed with the calibre of the candidates, a reflection of Alpha's growing reputation, and I would like to sincerely thank all of the individuals that we met along the way," Morgan Tillbrook, the CEO of Alpha FX Group, commented in a regulatory filing.
"Alongside his CV, Tim Powell's authenticity, honesty and humility stood out, characteristics which our outgoing CFO Tim Kidd also has in abundance, and which have made him such a joy to work with over the last seven years."
20 Years of Experience
According to his LinkedIn profile, Powell studied at the University of Birmingham and started his professional career as a Chartered Accountant at CLB Littlejohn Frazer and British Telecom Group. In 2005, he joined the FTSE 100 listed, London Stock Exchange Group (LSEG) where during the course of almost nine years he played the role of Head of Finance Operations and became the CFO in 2013. From January 2021, he was responsible for "Refinitiv Integration and Group Operations."
"Alpha is a company with an exciting future, and I am delighted to be joining at this stage in its journey. It is a company with strong foundations, a solid track record and huge amounts of ambition, and I am looking forward to working closely with the team to deliver on the opportunities ahead," Powell stated.
As LSEG's CFO, Powell led the $27 billion acquisition and further integration of Refinitiv. During his professional roles at LSEG, the entity reached over £40 billion in market capitalization.
Alpha FX Group, which Powell is currently joining, released its H1 2022 financial data in early September. According to the report, the company achieved a 16% increase in profit and increased the number of clients by 11%.
