KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, announces the appointment of Garry Jones as an independent Non-Executive Director of the Company.
Mr Jones will replace David Ellis, Independent Non-Executive Director, who notified the Board of his intention to step down from the Board with immediate effect after being with the Company since its IPO in early 2018. Mr Ellis is stepping down to focus on other business commitments and a relocation to the United States.
Garry has over 35 years’ experience in financial services and has been CEO of three of the largest derivatives and OTC exchanges in Europe: BrokerTec, LIFFE and the London Metal Exchange (“LME”). He has contributed to the business change, growth, and globalisation in exchanges, driving the momentum behind electronic trading and increased efficiency in the post trade environment via straight-through clearing.
Garry was part of the initial management team at BrokerTec, becoming CEO and President of BrokerTec Europe, before running ICAP Electronic Broking (Europe) - the forerunner of NEX. Brokertec became the largest global OTC trading platform, with major strengths in government bonds and repo. He joined NYSE Euronext in 2005 and was Global Head of Derivatives (overseeing derivatives markets in Europe and the USA) and CEO of the NYSE LIFFE exchange. In 2013 he became Co-Head of Markets at HKEX and CEO of the LME, based in London but with an office in Hong Kong and spending considerable time in Asia, with a major focus on China. He left HKEX in 2017, remaining an advisor to the company until 2018.
Garry was a founder member of the Futures and Options Association's European Industry Council and was a member of the UK's Financial Services Authority senior Practitioner Panel that advised on new policy initiatives under the UK's former regulatory regime. He was on the Board of The Federation of European Security Exchanges and alternate Board member of the World Federation of Exchanges. He served as a Director of The London Clearing House as well as the Qatar Exchange.
With the resignation of David and the appointment of Garry, the Board remains comprised of three independent Non-Executive Directors and the three Executive Directors.
Keith Todd, Executive Chairman commented:
“All the team thank warmly David for his valuable contributions since KRM22’s IPO and we wish him well with his new focus in the USA.
We are delighted to welcome Garry to the KRM22 Board. Garry brings deep knowledge and expertise of capital markets and has managed risks himself throughout his career in multiple ways. Garry’s decision to join the KRM22 Board reflects his view of how important the KRM22 Global Risk Platform is and the opportunity we have to help customers reduce the cost and complexity of managing their risks. All the team welcome him warmly.”