Interactive Brokers, the US-based electronic brokerage firm through a regulatory filing to the US SEC has announced the appointment of John Damgard as Director of the firm, effective from the start of this month. As per the filing, the original appointment was made in Nov 30th 2018 and Mr Damgard joins as Independent Director under the rules of the US SEC.
The appointment of John Damgard was made to fill the vacancy left by Kenneth Winston who resigned from the position and was reported by the company through the regulatory filing at the end of October. As per the document, Winston notified the company about his intention to step down from the position on October 17th, 2018 and his resignation is made effective from December 31st, 2018.
As per his LinkedIn profile, Kenneth Winston is a Senior Risk Officer at Western Asset Management Company which is based in California and also a lecturer in Economics at the California Institute of Technology since 2011. Mr Winston has also been the Director of Society of Quantitative Analysts (SQA) were he worked for almost two decades starting January 1998.
Before joining the Interactive Brokers, John Damgard has led the Futures Industry Association as its President and was part of the organization since 1982. He is also the founder, past president and member of the Institute of Financial Markets. In the regulatory filing, Interactive Brokers has mentioned that he has no familial connection with any members of the Board and is entitled to the same compensation as the company’s other non-employee directors.
The last few months have been pretty eventful for the company as it listed its shares on Nasdaq. The company also reported a better third quarter financial results for 2018 at $439 million, which is up by 3.5 per cent when compared to the $426 million achieved in the same period last year. The profits before tax of the company also increased by 2.9 per cent to $276 million from $268 million.