UK stock exchange operator PLUS Markets has named Cyril Theret, currently business development director, as its new CEO, replacing Simon Brickles.
Brickles will continue at the firm in the newly-created executive role of vice chairman, which he will assume on 15 February. He will focus on PLUS’s international activity, particularly in the Middle East.
In September 2009, a group of investors from the Gulf Cooperation Council (GCC) countries bought a 19% stake in PLUS for £5.5 million via a special-purpose vehicle, Amara Dhari Investments.
The exchange group has also named ex-Fidelity Brokerage Services CEO Giles Vardey as its new non-executive chairman with immediate effect. He replaces Stephen Hazell-Smith, who had served as the company’s chairman for five years.
“I look forward to working closely with our customers in order to provide them with equity market services that are closely aligned to their needs,” said Theret in a statement. “Having established a firm franchise in the small & mid-cap space, we now seek to leverage this position to offer creative market-driven solutions in a rapidly-changing industry environment.”
Vardey added, “The exchange has already won significant market share in an extraordinarily competitive trading environment and attracted some innovative customer business. It is now in a strong position to extend its scope in both primary and secondary market activity and pursue the many opportunities opening up in international capital markets.”
PLUS Markets, launched in 2004, focuses on trading and listing small- and mid-cap stocks.