London Capital Group Holdings appoints Kevin Ashby as new CEO

UK – The Company announces that Mark Slade has today resigned his position as CEO of the Company for personal reasons. His resignation will take effect immediately although he will remain as a strategic adviser to the Company for the remainder of the year to ensure a smooth transition period. He also continues to be a shareholder in the Company.

The Board is pleased to announce that Kevin Ashby, 55, has been appointed to replace Mark Slade as CEO with immediate effect.

Kevin recently joined LCG as Chief Commercial Officer and was previously Chairman & Chief Executive of Saxo Capital Markets and responsible for Saxo Bank‘s operations in Asia Pacific. He was formerly CEO of Patsystems, a UK listed financial software company; Chairman of Velsys, a trading systems supplier; and CEO of WISe, the insurance e-commerce network. He was formerly an IT Partner and CIO at KPMG. Kevin’s appointment is subject to regulatory approval.

Kevin has extensive knowledge of the retail derivatives industry having held a number of senior roles both in the UK and internationally.

The Board is also pleased to announce that it has further strengthened the Company’s management team with the appointment of John Jones as Chief Operating Officer and Head of Risk Management. John was previously European COO and Head of Risk at Liquid Capital, a specialist derivative trading firm and prior to that he held senior trading roles at both Bear Stearns and Citigroup. John’s expertise of trading, operations and risk management will be of great benefit to those areas of the firm.

Giles Vardey, Chairman of LCG, said: ‘The Board is sorry that Mark has made this personal choice but we all respect the reason for his decision. All members of the board wish him well and we are pleased that we have been able to promote Kevin Ashby to CEO. Kevin has a great deal of experience in our sector and has been a CEO in the past. His strategic vision and skills will continue to drive the improvements we are already making in the business. Kevin will also lead a strengthened management team with a new COO in John Jones.

Kevin Ashby was a director of PatSystems plc between 11 December 2002 and 3 January 2006 which entered in to a scheme of arrangement in 2003 in order to effect a distribution of excess capital to shareholders and move the company’s listing from the main market to AIM.

Kevin Ashby was a director of Velsys Pte (Australia) a subsidiary of Velsys Limited between 14 September 2010 and 4 July 2011 which was placed into administration in 2011. Velsys settled with administrators in late 2012.

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