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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that publicly traded Forex and CFD broker Plus500 Ltd (LON:PLUS) has changed over management of its FCA regulated UK subsidiary Plus500UK.
Entering as CEO of Plus500UK is Mark Winton, a seasoned FX industry executive who most recently was Head of Compliance at Alpari UK. Winton also worked previously at London Capital Group Holdings plc (LON:LCG), Astaire Securities, Goodman UK, CB Richard Ellis and Brown Shipley, primarily in senior risk management and compliance roles.
Winton replaces PwC veteran Yair Lavi, CEO at Plus500UK since 2013. Lavi remains as a director at the company.
The Plus500UK management changes were apparently made before the Playtech deal was announced earlier this year.
Parent company Plus500 is in process of being acquired by online gaming and trading giant Playtech PLC (LON:PTEC). The acquisition was approved in a vote by Plus500 shareholders in mid July , while Playtech shareholders will vote to approve the deal next week, on August 19. Assuming a ‘yes’ vote, which should just be a formality, the acquisition should close in late September, pending FCA regulatory approval.