07/03/2019 | Press release | Distributed by Public on 07/03/2019 03:58
Sucden Financial's CEO Michael Overlander and Deputy CEO Marc Bailey will build on their strong and established partnership to strengthen the firm's corporate governance, in the long term interests of further developing and expanding its services.
Overlander will move from his current role to the role of Non-Executive Chairman and Bailey will become Chief Executive Officer, with effect from 1 January 2020. Serge Varsano will remain on the board as Non-Executive Director, stepping down from his current role of Chairman of Sucden Financial.
As Non-Executive Chairman, Overlander will hold responsibility for the effective performance of the board. In addition, he will continue to manage some key client and exchange relationships, most notably involving the London Metal Exchange.
As Chief Executive Officer, Bailey will be responsible to the chair and the board, for the leadership and delivery of the company's growth-strategy, for existing and new business areas.
Strong corporate governance is at the heart of long-term sustainable success for any company, particularly within financial services. These changes will help ensure Sucden Financial's continued stability and growth.
Notes to Editors
About Michael Overlander
Michael has been actively involved in commodities since 1971, having begun his career on the London Metal Exchange (LME). He has worked for the Sucden Group since 1973.
In 1984, Michael was appointed to the board of Sucden Financial. He has been responsible for expanding the company's activities from being a single commodity house to a fully comprehensive and diversified brokerage, with an extensive global client base.
Michael has held directorships at the London Commodity Exchange (LCE), London International Financial Futures and Options Exchange (LIFFE), as well as the London Metal Exchange (LME) until it was sold to Hong Kong Exchanges and Clearing Limited (HKEx) in 2012.
About Marc Bailey
Marc has over 30 years' experience within the capital markets and commodities business, with extensive knowledge of both OTC and exchange traded derivatives.
Marc's past roles include President of Jefferies Bache and prior to that he was Managing Director and Chairman at Bache Commodities Limited. Other tenures include COO and Director of Business Development at Cargill Investor Services, Director of Business Development at the London Stock Exchange, and Executive Director at CIBC. His experience also includes working as a trader on the LIFFE floor and for J.P. Morgan, as the senior officer responsible for the floor trading team.
In 2015 Marc joined Sucden Financial, where he is responsible for growing and developing its brokerage activities.
About Sucden Financial
Sucden Financial is a leading international derivatives and FX broker providing access to a broad range of markets, including exchange and OTC traded products, as well as equities, fixed income, foreign exchange and bullion.
The company was formed in 1973 as the London brokerage arm of Sucden, an independent leader in soft commodities trading. Sucden Financial has since evolved into one of the largest brokers for traders, fabricators, producers, consumers, investment houses, hedge funds, commodity firms and retail brokers.
Sucden Financial is a ring dealing member of the London Metal Exchange (LME) and has access to major global exchanges, offering clients fast, direct access to worldwide markets.
Based in the City of London, Sucden Financial also has offices in Moscow and subsidiaries in Hong Kong (Sucden Financial (HK) Limited) and New York (Sucden Futures Inc.).
Sucden Financial Limited is authorised and regulated by the Financial Conduct Authority.
Sucden Financial (HK) Limited is licensed by the Securities and Futures Commission (SFC).
Sucden Futures Inc. is registered with the National Futures Association (NFA).