ActivTrades has informed Finance Magnates that Patrick Storey, a Non-Executive Director on the company’s Board, is becoming the broker’s new Chairman. He has succeeded John Reed who stepped down from his role last week.
The appointment of Storey was disclosed only a day after Reed’s resignation came to the public domain.
“I would like to thank John for his valuable contribution to the continued growth of the business over the last five years and look forward to continuing to work closely with him on a thrilling new project,” the CEO of ActivTrades, Alex Pusco said in a statement.
Reed will be joining as the Chairman of a new business venture launched by Pusco. However, details of that business are not known yet.
The New Chair
“I am also delighted that Patrick has agreed to become Chairman of ActivTrades Plc and know that his knowledge and experience will help us to continue to further develop the business and help it to meet its strategic goals,” Pusco added.
Storey joined ActivTrades’ Board in November 2017. Additionally, he is sitting on the Board of two other financial services companies, Think Money Group and Arch Insurance Group, in a non-executive capacity, according to his Linkedin profile.
Furthermore, he is a financial industry veteran with more than three decades of experience. He was a founding member and Senior Partner of Grant Thornton’s Financial Services group, and head of its regulatory team. There, he was a specialist in governance and the practical implications of the regulation for banks, lenders and other financial institutions.
