- London Capital Group Holdings has appointed Charles-Henri Sabet as executive chairman with immediate effect.

LCG says Giles Vardey is stepping down as chairman but will remain on the board as non-executive senior independent director.

LCG says Sabet, 52, has a great deal of experience in financial and foreign exchange markets. He set up Trading and Commercial Consulting, a financial organisation specialising in foreign exchange. He was also founder and chairman of Synthesis Bank Geneva, which was sold to Saxo Bank (Switzerland) SA in 2007.

Sabet is currently a director of GIO Global Investments Opportunities Management Ltd which offers proprietary trading and investment services. Until its sale in April, Sabet was also a non-executive director of JIFFIX Markets Ltd, a Cyprus based investment firm specialising in foreign exchange brokerage.

At 4:22pm: [LON:LCG] London Capital Group Holdings PLC share price was +0.5p at 24.75p

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