19th Oct 2022 11:06
(Alliance News) - Alpha FX Group PLC on Wednesday appointed Tim Powell as its new chief financial officer.
Powell will join the London-based foreign exchange risk management and international payments firm on December 1.
Most recently, Powell spent 17 years at FTSE 100 listed London Stock Exchange Group PLC, the exchange operator and financial data company.
Alpha FX said that he was CFO of the LSEG's largest subsidiary, London Stock Exchange, and was finance lead for its USD27 billion acquisition and integration of Refinitiv.
"Tim was responsible for functions covering a cost base of over GBP800 million, with over 13,000 employees, whilst the LSEG had grown income to over GBP7 billion with a GBP40 billion plus market capitalisation," it added.
Powell will succeed current CFO Tim Kidd, who announced plans to step down back in January this year, after six years with the company.
At the time he agreed an extended notice period up to the publication of Alpha FX's full year results in March 2023 as part of a "transition agreement". He will step down from the board on December 1, however.
Chief Executive Morgan Tillbrook said: "Tim Powell's appointment followed a meticulous selection process, and the advance notice of Tim Kidd's retirement gave us the opportunity to cast the net far and wide and conduct a thorough and detailed search for his replacement. We were very impressed with the calibre of the candidates, a reflection of Alpha's growing reputation, and I would like to sincerely thank all of the individuals that we met along the way."
Shares in Alpha FX were up 2.1% to 1,745.00 pence each in London on Wednesday morning.
By Sophie Rose; [email protected]
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