London 06/01/2016 - Jeremy Isaacs has stepped down from his position as non-executive chairman of Marex Spectron and will be succeeded by Simon Heale, the company said on Wednesday.
Heale was the former CEO of the London Metal Exchange (LME) and has been engaged with the firm since becoming a non-executive director of Marex Group in 2007.
“[Heale] knows this business well, understands the challenges and opportunities before it, and has spent a long and successful career leading some of the most influential organisations in the commodities sector,” Isaacs said.
Further changes to management were also announced today. The firm's CEO John Wall will retire from his position as of January 8 and will be replaced by current chief financial officer (CFO) Ian Lowitt, who will move to London from New York to take over this position.
In addition, non-executive director Peter Sugarman is stepping down to be replaced by Joanna Nader. Isaacs, Sugarman and Nader are officers of JRJ Group which, together with its partners Trilantic Capital Partners and BXR Group, are the majority shareholders. Simon van den Born, Marex global head of metals, will join the board.
These appointments remain subject to regulatory approval.
(Editing by Martin Hayes)