People: Patsystems appoints former ShareLink chief

People: Patsystems appoints former ShareLink chief

UK-based derivatives software house Patsystems has appointed David Jones, the founder of UK execution-only broker Sharelink, as a non-executive director.

The appointment of Jones is a coup for Patsystems which has plans to move into the retail and equity trading arena in the first quarter.

Jones founded the telephone-based ShareLink stockbroking service in 1986. When he sold the business to Charles Schwab in 1995, ShareLink had a database of over one million private investors and corporate clients and handled up to 10 per cent of all trades on the London Stock Exchange.

Since leaving ShareLink, Jones has developed an extensive private business portfolio. He has been granted options over 49,261 new ordinary shares of 1p each in the share capital of Patsystems exercisable at 101.5p per share at any time following the announcement of the company's results for the year ended 31 December 2003.

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