IG expands US management team
The new appointments follow last week’s announcement that the group had found its new CEO, in the shape of Breon Corcoran. The former boss of Paddy Power Betfair.
Mr Corcoran will take over the reins in late January.
Meanwhile, IG has appointed a new CFO and a new CTO to its US operations.
Isaac Poore becomes the North American division’s new Chief Financial Officer.
Mr Poore replaces Matt Hellmuth, who, according to IG is “moving on to his next opportunity”
As to the role of Chief Technology Officer for North America, that’s being filled by Jordan von Kluck. Who was previously CTO of Tastytrade, the US-based options broker and educator that IG Group took over a couple of years ago.
The CEO of IG North America, JJ Kinahan was quoted as saying:
“I’m delighted to announce these leadership appointments. At IG North America, we aim to foster and promote talent from within that can help us continue to deliver innovation in and customer satisfaction with our platforms,”
He added that
“I was a little nervous about appointing someone with the last name ‘Poore’ to a CFO role, but his experience and qualifications settled any doubts I might have had.”
A work in progress
IG has yet to get its North American operations firing on all cylinders and presumably, that will be one of Breon Corcoran’s priorities in 2024.
As part of that process, IG has rebranded and enhanced Tastytrades offerings with new web, desktop and mobile platforms, and the launch of a new API for the brand.
IG North America also owns and operates the Small Exchange, a Chicago-based futures venue, specialising in contracts over US Treasury bond yields.
The US could be a lucrative market for IG Group, though success, if it arrives, is likely to come from on-exchange trading, given that there is no real OTC trading culture in the US, among retail customers, who are largely prohibited from trading OTC CFDs and alike.
As such it will be interesting to see how the new executive team will help to shape that growth.