Spread-bet­ting boss quits

Daily Mail - - City & Finance -

THE fi­nance boss of CMC Mar­kets quit as the trad­ing firm warned of a steep fall in rev­enues due to a crack­down by reg­u­la­tors.

Grant Fo­ley leaves after six years as chief op­er­at­ing and fi­nan­cial of­fi­cer.

It came as CMC said rev­enues from spread-bet­ting this year will be down 37pc on 2018 at £110m. It blamed tough Euro­pean re­stric­tions on high-risk trades that can ex­pose pun­ters to big losses.

Fo­ley, 46, helped bring CMC to the stock mar­ket with a £700m float in 2016. He will stay for the next six months un­til a re­place­ment is found.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.