LONDON, June 2, 2011 /PRNewswire/ --
- Charlie McCreevy, Former EU Commissioner Joins WorldSpreads Group plc as Non-Executive Director, to Support Group's Growth Across Europe
WorldSpreads Group plc (http://www.worldspreads.com/en/home.aspx), the financial market trading company, is pleased to announce that Charlie McCreevy has joined the Board of the Group, as a Non-Executive Director, with immediate effect.
Following a period as Ireland's Minister for Social Welfare, Tourism and Trade, Mr McCreevy was Minister for Finance from 1997, where he simplified the tax system and steered Ireland's entry into the EU's Economic and Monetary Union and the Euro. In 2004, Mr McCreevy became European Commissioner for Single Market and Services, retiring in 2010. Presently, Mr McCreevy, among his other positions, also sits on the Board of Ryanair.
At WorldSpreads, Mr McCreevy will take an active part in the company's growth throughout Europe, developing new partnerships with banks, stockbrokers and other financial third parties, in line with WorldSpreads' growth strategy.
Conor Foley, CEO of the Group, said: "We see Europe as our growth market and we see developing strong partnership agreements as a key part of our growth strategy. From his position as EU Commissioner, Charlie McCreevy gained a unique insight into the EU financial services sector. He is therefore very well positioned to help us gain access to a set of select target partners and we are therefore confident that we will encounter some exciting new partnership prospects over the next two years."
Charlie McCreevy, newly appointed Non-Executive Director, said: "Spread trading has quickly evolved into a mainstream financial service throughout the UK and Europe. WorldSpreads has demonstrated that it has the professional capability to penetrate these markets. I am very pleased to make my export promotion experience gained as a Minister and my knowledge of the UK and EU markets available to assist companies such as WorldSpreads. I look forward to working alongside its Board and management team to help the company fulfil its potential."
WorldSpreads continues to deliver on its global growth plans. As indicated in the pre-close trading update released by the Group on 31 March 2011, Revenue for the year ended 31st March 2011 was 25% ahead of that recorded in the previous year. Active clients were up by 50% and transactions by 100%. Innovation, aggressive pricing and marketing in the highly competitive UK market continues to pay dividends as new offices in Germany, France, Sweden and Denmark come on line, joining established markets in Spain, Hungary, Greece and South Africa.
Further information required by Rule 17 and Schedule 2(g) of the AIM Rules for Companies:
Charles John (Charlie) McCreevy, 61, currently holds Non-Executive Director positions at Sports Direct International Plc and Ryanair Holdings plc. He is also a Director of Dublin-based Bank of New York Mellon Clearing International (BNY Mellon Clearing), a unit of the global banking group.
In the last five years, Mr McCreevy has served as EU Commissioner for Internal Market and Services (2004-2010) and has been a Non-Executive Director of NBNK Investments Plc.
Mr McCreevy does not hold any ordinary shares in WorldSpreads Group plc.
No further disclosures are required in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies.
About WorldSpreads Group plc
WorldSpreads Group plc (AIM: WSPR) is a fast growing financial services group offering online and telephone trading. The Group's core activity is the provision of spread betting (http://www.worldspreads.com/en/home.aspx) products on the financial markets to retail clients from its website http://www.worldspreads.com/.
WorldSpreads Limited, a wholly-owned trading subsidiary of WSPR, is regulated and authorised by the Financial Services Authority. It offers a full range of spread betting prices on all the major financial markets, including stock indices, individual shares, currencies, commodities and interest rates.
The Group floated on the London Stock Exchange's AIM market in August 2007 and gained a dual listing by joining the Irish Stock Exchange's IEX market in May 2008.
SOURCE WorldSpreads UK