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London Real Estate Exchange Limited (“IPSX Group”): Appointment Of Directors To IPSX UK Limited And Appointment Of Group CFO

Date 03/05/2017

IPSX Group today announces the appointment of Michael Higgins (non-executive Chairman) together with Imogen Joss and Alan Ramsay as non-executive directors of IPSX UK Limited (“IPSX UK”). 

Subject to regulatory approval by the Financial Conduct Authority, IPSX UK will operate from London the world’s first regulated securities exchange dedicated to the IPO and secondary market trading of shares in Exchange Traded Properties (“ETPs”).  ETPs are companies owning single commercial real estate assets. Investors will be able to buy and sell shares of ETPs via their stockbroker in the same way as they currently do for other securities.

IPSX Group also announces the appointment of Ian Pain as its Group Chief Financial Officer and a director of the company.

IPSX Group is the holding company for IPSX UK and inter alia has responsibility for extending the IPSX product range and operating further regulated markets in new geographies.

Commenting on the appointments, Anthony Gahan, Chairman of IPSX Group, said:

“The IPSX Group proposition requires a deep understanding of regulated market infrastructure, real estate investment, wealth management and data.  We are delighted that the innovation in financial technology which IPSX represents continues to attract world class individuals to build the business. 

The appointments of Michael, Imogen and Alan emphasise the IPSX Group’s relentless pursuit of the highest levels of commercial functionality and best practice governance for the issuers, investors and market counterparties on its regulated markets. 

We are also delighted to welcome Ian to the IPSX Group board as CFO.  His private equity and public company experience will be invaluable in accelerating the growth of the business which is already achieving resonance on an international basis.”

Today’s announcement follows the recent appointment of Ian Womack, former Chief Executive of Aviva Investment’s global real estate division, as a Senior Adviser to IPSX Group and a series of investments by market leading strategic investors in the company during 2016.

The three new Non-Executive Directors join two executive directors (Cyril Théret, Co-founder of IPSX Group & CEO of IPSX UK together with Mark Tavener, Director of Finance) on the board of IPSX UK.

Michael Higgins is an experienced Chairman, Non-Executive Director and public markets practitioner.  He is currently Non-Executive Chairman of AIM listed Ebiquity plc and a Non-Executive director of Plant Health Care PLC, Progility plc and The Quoted Companies Alliance (“QCA”).  He is an alternate Member of The Panel on Takeovers and Mergers on behalf of the QCA.  Michael was previously Chairman of the QCA, a Partner and Senior Adviser at KPMG and a Director of Charterhouse Bank.  He qualified as a Chartered Accountant with Price Waterhouse.

Imogen Joss has a background in fintech, data analytics, indices and markets as well as M&A and international growth.  She is currently Senior Independent Director at London listed Gresham Technologies plc.  Imogen previously sat on the Executive Committee of New York based S&P Global and was President of Platts and S&P Capital IQ.  Prior to this she was an Executive Director at the London Stock Exchange Group, Global Head of Sales at FTSE Group and Global Head of Sales at Informa Group.

Alan Ramsay has a background in compliance, regulation, banking and capital markets -  latterly as a Senior Adviser to PricewaterhouseCoopers and currently as Deputy Chairman of the Chartered Institute for Securities and Investment.  Alan is the former Global Head of Compliance for HSBC Bank plc, Chief Compliance Officer at Bankers Trust International and was Executive Director of Surveillance at the Securities and Futures Authority and Deputy Director of Enforcement at The Securities Association (both predecessor UK government financial regulatory entities).

Ian Pain is appointed a director of IPSX Group and Chief Financial Officer.  Ian has thirty years’ experience as a CFO of both public and private companies coupled with the private equity and corporate finance/equity capital markets.  He qualified as a Chartered Accountant with Price Waterhouse before joining UK merchant bank Charterhouse and then working as an investor at PPM Ventures (the private equity arm of Prudential).  He was subsequently appointed CFO of a portfolio company of PPM Ventures to professionalise it and manage its exit and was then appointed CFO of DX Group to restructure its finances and procure an exit through a London IPO for its private equity owner.