Non-Executive Director AppointmentSource: RNS
IG Group Holdings plc
LEI No: 2138003A5Q1M7ANOUD76
7 July 2020
Non-Executive Director Appointment
The Board of IG Group Holdings plc (the "Company"), a global leader in online trading, is pleased to announce that Rakesh Bhasin was appointed on 6 July 2020 as a Non-Executive Director of the Company. Rakesh has also been appointed as a member of the Environmental, Social and Governance (ESG) Committee of the Board.
Rakesh is an experienced Non-Executive Director with significant global experience across multiple sectors. Additional biographical details are set out below.
Commenting on the appointment, Company Chairman Mike McTighe said:
"Following an extensive, externally facilitated search I am delighted to welcome Rakesh to the Board. He is a highly experienced Non-Executive Director with significant experience in the Asia Pacific region. Rakesh will complement the range of skills of our existing Board members."
Rakesh Bhasin said: "IG Group is an award winning multi-platform trading company with strong technology assets and an exciting growth strategy. I'm looking forward to working with the Board and the management team to realise further the potential of the business."
Rakesh Bhasin brings extensive technology and global markets experience, specifically in Asia Pacific. He is a Non-Executive Director for a portfolio of companies in multiple sectors and is also Chairman of CMC Networks, a Carlyle Group investment company based in Africa, focused on providing telecommunications services across Africa and the Middle East.
In his executive career, Rakesh was the CEO and a member of the Board of Colt Technology Services*, a Fidelity owned company providing network, voice, and data centre services globally. Rakesh was appointed into the role of CEO in December 2006 and completed his tenure at the end of 2015, concluding his secondment from Fidelity. Concurrently, he was Non-Executive Chairman of KVH, an Asian based technology company with headquarters in Tokyo and operations in Hong Kong, Seoul and Singapore, and Non-Executive Chairman of Market Prizm, a financial services focused technology company.
Rakesh has also previously held senior positions within AT&T, including Head of AT&T Asia Pacific's managed network services business and President, AT&T Japan Ltd. He was also formerly Senior Managing Director of Japan Telecom Company Limited.
Rakesh has a BSc, degree in Electrical Engineering from George Washington University.
*Colt Technology Services was listed on the London Stock Exchange until it was acquired by Fidelity Investments in August 2015.
Rakesh Bhasin was a non-executive director and investor in YourFeed Limited which entered into voluntary liquidation on 13 December 2017. The Company was dissolved on 11 May 2020.
There is no further information to disclose in accordance with Listing Rule 9.6.13R.
For further information, please contact:
Liz Scorer 020 7573 0727
Ramon Kaur 020 7573 0060
Neil Doyle / Ed Berry 020 3727 1141 / 1046
IG empowers informed, decisive, adventurous, people to access opportunities in over 16,000 financial markets. With a strong focus on innovation and technology, the company puts client needs at the heart of everything it does.
IG's vision is to provide the world's best trading experience. Established in 1974 as the world's first financial derivatives firm, it continued leading the way by launching the world's first online and iPhone trading services.
IG is an award-winning, multi-platform trading company which allows retail, professional and institutional clients to trade 24 hours a day, 7 days a week*. IG is the world's No.1 provider of CFDs** and a global leader in forex. It provides leveraged services with the option of limited-risk guarantees and offers an execution-only stock trading service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has a range of affordable, fully managed investment portfolios, which provide a comprehensive offering to investors and active traders.
IG is a member of the FTSE 250, with offices across Europe, including a Swiss bank, Africa, Asia-Pacific, the Middle East and North America. IG Group Holdings plc holds a long-term investment grade credit rating of BBB- with a stable outlook from Fitch Ratings.
*Excluding 10pm Friday (GMT) to 4am Saturday (GMT)
**Based on revenue excluding FX (from published financial statements, June 2019)
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