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IG client figures reveal challenge for CEO
Evening Standard
|January 25, 2024
THE size of the task facing new IG chief executive Breon Corcoran was made clear when the spread betting giant revealed falling sales and profits.
Broking houses that boomed during lockdown as a new breed of investors played markets have lately found life much harder.
In the half-year to November revenue was down 9% to £472 million. The active client base fell from 312,000 to just over 296,000 - a familiar tale for City brokers.
Corcoran was appointed as CEO in January, replacing June Felix who has overseen a rapid expansion, not just in the UK.
Critics of the industry note that most punters lose money, whatever the sector's claims to be a vehicle for sophisticated investors to balance risk.
Esta historia es de la edición January 25, 2024 de Evening Standard.
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