Further to the announcement made on July 8, 2016, online brokerage leader IG Group Holdings plc (LON:IGG) has confirmed that, following receipt of regulatory approval, its Chief Financial Officer (CFO) Designate, Paul Mainwaring has been appointed an Executive Director of IG Group Holdings plc and Chief Financial Officer with immediate effect and joins the Board of IG.
Paul was previously a Director of interdealer broker Tullett Prebon Plc (LON:TLPR) from 2006 to 2016. There are no further required disclosures under Listing Rule 9.6.13.
Paul Mainwaring will receive a basic salary of £400,000. He will be eligible to participate in IG’s single incentive plan for Executive Directors known as the Sustained Performance Plan (SPP) with a maximum award of four times base salary for ‘stretch performance’ and an anticipated award of two times base salary at on-target performance. This is awarded in IG shares; a substantial proportion of these shares are deferred and vest over an extended period. Paul will also receive a pension and benefits allowance totalling 17% of base salary.