19 October 2022
Alpha FX Group plc
("Alpha FX", "Alpha" or the "Group")
Appointment of CFO
Alpha FX, a leading provider of financial solutions to corporates and institutions internationally, is pleased to announce the appointment of Tim Powell as Chief Financial Officer and an Executive Director of the Board. He will succeed Tim Kidd, who will step down as CFO in line with his retirement plans announced by the Company on 19 January 2022. Tim Powell will join the Board on 1 December 2022. Tim Kidd will be stepping down from the Board effective from 1 December 2022, but will continue to support the Company as part of a transition arrangement, up to the publication of the full year results in March 2023.
Tim Powell brings over 20 years of experience working in high-quality fast-growing public companies. 17 of these years were at the FTSE 100 listed, London Stock Exchange Group ("LSEG"). He was CFO of the LSEG's largest subsidiary, London Stock Exchange, and was finance lead for the $27bn acquisition and integration of Refinitiv. Tim was responsible for functions covering a cost base of over £800m, with over 13,000 employees, whilst the LSEG had grown income to over £7bn with a £40bn+ market capitalisation.
Tim Powell is a Chartered Accountant. He began his career at CLB Littlejohn Frazer and British Telecom Group before joining the London Stock Exchange Group in 2005.
Regulatory disclosures
In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies, Timothy Powell (aged 46), holds or has held the following directorships and partnerships:
Current Directorships |
Past Directorships |
None |
Turquoise Global Holdings Europe BV |
Timothy Powell does not hold any shares in the Company.
Morgan Tillbrook, CEO commented:
"Tim Powell's appointment followed a meticulous selection process, and the advance notice of Tim Kidd's retirement gave us the opportunity to cast the net far and wide and conduct a thorough and detailed search for his replacement. We were very impressed with the calibre of the candidates, a reflection of Alpha's growing reputation, and I would like to sincerely thank all of the individuals that we met along the way.
Alongside his CV, Tim Powell's authenticity, honesty and humility stood out, characteristics which our outgoing CFO Tim Kidd also has in abundance, and which have made him such a joy to work with over the last seven years.
I would also like to take this opportunity to thank Tim Kidd for his contribution in taking our business to where it is today. When Tim first joined us, it was with the intention of working on a part-time basis whilst he wound down towards retirement. Little did he know what would subsequently follow was a seven-year, full-time role, during which time the company grew from 25 people, to over 300 people across eight countries. I was 32 years old when Tim joined, and he has been influential in my development as a Plc CEO, for which I will always be grateful. I am delighted he will remain on hand through to the publication of our final results in March 2023, and he will very much remain an honorary member of the team."
Commenting on his appointment, Tim Powell, incoming CFO of Alpha said:
"Alpha is a company with an exciting future and I am delighted to be joining at this stage in its journey. It is a company with strong foundations, a solid track record and huge amounts of ambition, and I am looking forward to working closely with the team to deliver on the opportunities ahead."
Enquiries:
Alpha FX Group plc |
via Alma PR |
Morgan Tillbrook, Founder and CEO |
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Tim Kidd, CFO |
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Liberum Capital Limited (Nominated Adviser and Sole Broker) |
Tel: +44 (0) 20 3100 2000 |
Neil Patel |
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Cameron Duncan Kate Bannatyne |
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Kane Collings |
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Alma PR (Financial Public Relations) |
Tel: +44 (0) 20 3405 0205 |
Josh Royston |
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Andy Bryant |
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Kieran Breheny |
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Notes to Editors
Alpha is a high-tech, high-touch provider of enhanced financial solutions dedicated to corporates and institutions operating internationally. Working with clients across 50+ countries, we blend intelligent human capabilities with new technologies to solve complex problems across three key areas: FX risk management, global accounts and mass payments.
Key to our success is our team - nearly 300 people based across seven global offices, brought together by a high-performance culture and a partnership structure that empowers them to act as owners of our business.
Despite being an established business listed on the London Stock Exchange, we remain relentlessly focused on maintaining the same level of operational agility and client focus we had when we first started in 2009. This dynamic, combined with the passion of our people, have enabled us to make a substantial and enduring difference to our clients, and deliver a growth story to match.