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IG Group appoints June Felix to become its first ever female CEO

June Felix's appointment follows the departure of veteran Peter Hetherington last month

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IG Group said Felix had been appointed CEO and an executive director on the board of IG with immediate effect

IG Group Holdings Plc (LON:IGG) named June Felix as its new CEO on Tuesday, making her the online financial trading firm’s first ever female chief, sending its shares higher.

Felix, whose appointment follows the departure of veteran Peter Hetherington last month, previously served as president of payment tech firm Verifone Inc’s (NYSE:PAY) Europe and Russia business. She has also previously held senior roles at Citibank and IBM.

READ: IG Group's veteran CEO steps down as regulatory pressures bite, shares slide

Felix has been appointed as CEO and an executive director on the board of IG with immediate effect, the company said.

Felix, who has also been a non-executive director of the trading group since September 2015, was selected as CEO following an extensive succession planning process that assessed external and internal candidates, IG said.

"The board is delighted to appoint June Felix as CEO of the group. She brings to the role over 25 years' experience in both the finance and digital technology sectors, and she has a deep understanding of our business,” Chairman Andy Green said in a statement.

"June has a strong track record in strategy and product innovation and has successfully developed businesses of varying scales in the USA, Asia and Europe. Her broad experience makes her ideally suited to take IG forward."

Felix said she would draw on her experience of financial services firms globally and looks forward to “leading the evolution of the group's strategy to deliver sustainable growth and attractive shareholder returns."

In a note to clients, analysts at Shore Capital said Felix has an "impressive CV" and takes on the job in the midst of regulatory change, with the new ESMA rules (particularly around leverage caps) having become effective from 1 August 2018. Felix will need to combat the continued weakness in IG’s shares especially given an improved short-term backdrop, they added.

Shares in IG Group were 5.3% up at 612.0p in early trade,

- updates to add share price and analyst comment - 

Quick facts: IG Group

Price: 767.5 GBX

LSE:IGG
Market: LSE
Market Cap: £2.84 billion
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