Market leading spread betting broker IG Group has this week said goodbye to its Finance Director of four years, Steve Clutton. The spread betting giant is now thought to be scouring high and low for his replacement, with senior director Matthew Tooth slotting in as a short-term replacement, overseeing the handover and transition phase.

The original proponent of spread betting in the UK, and one of the largest players in the spread betting market to this day, IG Group are the definitive British broker, extending divisions of its spread betting and derivatives platforms across the world, including Japan, Australia, Germany and the USA. Playing a pivotal role in the development of modern financial instruments, including contracts for difference and futures, IG Group is one of the most recognizable names in spread trading.

Its current focus is breaking through the US market with its trading platforms, after significant success across Europe and Asia for trading derivatives and spread betting. At a time where IG are planning further expansion of their platform into the US market, and the likely compliance issues CFD trading in particular could face as negotiations advance with US regulators, the loss of a top-ranking, senior director could be an added complication to an already ambitious project.

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