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Brady founder moves to non-exec role

16 June 2009  |  948 views  |  0 Source: Brady

Brady (BRY.L), the leading provider of trading, risk management and settlement solutions to the metals and commodities sectors, has announced today that Dr. Robert Brady, currently Chief Technology Officer, will become a non-executive director of the company that he founded more than 24 years ago, with effect from 30 September 2009.

Dr. Brady will remain a major shareholder in the company.

On his new role with the company Dr. Brady commented: "The company is ideally positioned to capitalise on the current global opportunities. The new management team shares our existing values - to understand the market, understand the client and provide the best solution through appropriate technology - and is taking us forward into a new phase of international growth. My position as a non-executive director will continue to keep me involved with the company and the reduced role will give me more time to devote to my passion for entrepreneurship in the UK. Specifically, I will be increasing my activity in the Cambridge area with non-competing technology start-ups."

Gavin Lavelle, CEO of Brady, said: "Robert has taken a one man consultancy and built the business into a strong public company, which is now a leading provider of trading and risk management technology solutions to the metals and commodity markets. This is a tremendous achievement by Robert and I am particularly pleased that we will continue to benefit from his continued participation and support in the future growth of the company. I would also like to personally thank Robert for his unstinting support since I joined the company in 2007."

Dr. Brady began in 1985 developing pricing algorithms for the FX market, and by 1989 this had expanded to include swaps, interest rate derivatives and metal derivative risk management solutions. Within ten years the company had started to make a real name for itself in the metals and commodities markets. With the increase in capitalisation resulting from its UK AIM listing in 2004, Dr. Brady and his Board colleagues set about growing the company. 2007 saw a step change in this growth with a number of senior new hires joining the Board, including CEO Gavin Lavelle. The management's determination to aggressively capitalise on growth opportunities has been clearly demonstrated in the progreess made since then.

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