Chris Hill is expected to take up his new post at Hargreaves Lansdown in March 2016, during which time Simon Cleveland, a partner from Deloitte, will continue to act as interim chief financial officer after previous CFO Tracey Taylor left the company in June after 15 years.
Hill’s resignation from IG Group after four years as CFO comes just weeks after chief executive Tim Howking announced that he will be retiring after 16 years at the company.
On Hill’s departure, IG said: “We are disappointed to lose Chris but we understand his decision.
“The board will commence, with immediate effect, a thorough search and selection process for [Hill’s] successor, considering both internal and external candidates.”
Hill, who has also held positions at Travelex, General Electric, and Arthur Anderson, said he was “sorry to leave” IG but is “looking forward” to joining Hargreaves.
Peter Lenardos, an analyst at RBC Capital Markets said that today’s announcement should “draw to a close investor uncertainty regarding an appointment of a CFO”.
At the end of last month, IG’s yearly results revealed a 0.9% decrease in profit before tax to £193.2m, while reported profit before tax was down 13%.
However, the company reported good growth in revenue, up 8% at £400.2m.
