As per recent announcement made by the firm earlier this week, its current Chief Executive Officer Michael Overlander is resigning from the role at the end of this year. While, he resigns from his role of Chief Executive Officer, he will still remain at the firm and become its non-executive chairman starting from January 2020. Overlander has been a part of Sucden Financial’s family for nearly 50 years having joined the commodities and forex brokerage back in 1973. As per a report in Financemagnates website, Michael started his career at London Metal exchange where he started working while after finishing school at young age of 17. However, he moved to Sucden Financial shortly and has remained with the firm for 47 years now making up the entirety of his career. As per the statement, Michael will still play an active role in some key areas of the firm despite his non-executive role.
Michael will still manage some of the key client and exchange relationships of the broker especially those with ties to and involve London Metal Exchange. Also, in his role as non-executive chairman, Michael is responsible for ensuring that the board members at Sucden financial perform their respective tasks and associated duties on time perfectly. Once he resigns from the role of Chief Executive Officer, he will be succeeded by Marc Bailey who has also been a part of the firm for quite a while now and is currently serving as Deputy Chief Executive Officer. Marc Bailey joined Sucden Financial Ltd back in 2015 and is an industry veteran with vast experience on wide array services offered in financial world. Mark had served in several major financial giants in global market.
He has gained experience as a trader from his tenure at JP Morgan and London International Financial Futures and Options Exchange and has also held several roles in business development division of financial service providers like London Stock Exchange and Cargill Investor Services. According per details in the statement, the changes which have been made at Sucden Financial facilitates most senior personnel at the firm to work towards strengthening its business operations and help ensure continued success in future ventures. Regarding succession of CEO role, the statement had quoted officials at the firm commenting, “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. 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”.
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