IG Group chief June Felix takes ‘medical leave’
3 July 2023, 09:14
Current chief financial officer Charlie Rozes will take over her ‘day-to-day responsibilities’, the FTSE 250 company said.
The boss of online trading firm IG Group is temporarily stepping down to take “medical leave”.
June Felix, appointed chief executive in 2018, told shareholders on Monday morning she will be away for a “short period”.
Chief financial officer Charlie Rozes will become acting chief executive and take over Ms Felix’s “day-to-day responsibilities”, the FTSE 250 company said.
He will also continue in his current role to provide continuity and so the firm can operate its current strategy, it added.
In an update in March, the company posted a drop in revenues and active client numbers over the third quarter.
IG, founded by spread-betting entrepreneur Stuart Wheeler in 1974, said reduced market volatility pulled revenues for its over-the-counter derivatives down by 18% for the quarter to February.
The group also failed to match trading levels which had been elevated in the previous year due to sharp market volatility amid Russia’s invasion of Ukraine.
It is expected to show an improvement in activity over the latest quarter as uncertainty in the financial sector, which included the collapse of Silicon Valley Bank, boosted trading platforms.
The firm is set to reveal its latest full-year financial results on Thursday July 20.
