Marex Spectron has announced that its CEO, John Wall, has retired and will be succeeded by current chief financial officer Ian Lowitt.
The new appointments, which are subject to regulatory approval, will take effect from 8 January. Group financial controller Rob Watts will take Lowitt’s position as CFO.
“With the firm in excellent shape, I feel that now is the right time for me to step back,” said Wall, who leaves after three years with commodity trading specialist Marex.
“It has been a privilege to lead this company and I have no doubt that Ian is the right person to take charge of the next stage of its development.”
In spite of these new appointments, the broker insists that Lowitt’s appointment will ensure continuity and stability going into 2016 following a successful 2015.
Head of corporate communications Richard Lindsay said: “There will be no real change in strategy going into 2016 as we aim to retain the trust of our clients and maintain the relationships that have been created.
“John’s retirement has been planned for several months, having joined us in 2012 with a specific remit to integrate the Marex and Spectron groups as well as to aid our growth in Asia and the US, he feels now is the time to step down after achieving these targets.”
Other management changes within Marex include non-executive chairman Jeremy Isaacs stepping down to be succeeded by current non-executive director Simon Heale.
Additionally, Joanna Nader will replace the outgoing Peter Sugarman as non-executive director.