IG Group Appoints Board Member and COO as New Chief Executive Officer

A regulatory filing by IG Group (LON:IGG) reveals that the company has appointed a new Chief Executive officer. The successor of industry veteran Tim Howkins is Peter Hetherington. He had already been appointed as an Interim CEO at the annual shareholder meeting of the company in October.

Following today’s announcement, the brokerage confirms the former Chief Operating Officer of the company as acting chief executive. Mr. Hetherington has been an IG Group (LON:IGG) board member since 2002.

Commenting on the announcement, the Chairman of IG’s Board, Andy Green, said, "Following an extremely thorough search process, which considered the merits of a number of external candidates, the Board is very pleased to appoint Peter as CEO.”

“Peter has been central to the development of IG to this point and the Board is confident that Peter is the right person to lead IG and to deliver the next phase of growth,” Mr. Green added.

The move happens a couple of days after the IG Group (LON:IGG) confirmed that it is expecting the quarter that ended on November 30th to come out stronger than the previous one. The news hit the wires at a time when a number of brokerages in the industry have been experiencing declining trading volumes.