Marex Announces Changes to its BoardSeptember 12, 2023
Marex, the diversified global financial services platform, today announces that Carla Stent, Non-Executive Chair of the Group Board, and Lord Stanley Fink, Non-Executive Director, will rotate off Marex’s Board having served for nine and 13 years respectively. This will ensure all the Independent Non-Executive Directors (INEDs) on the Marex Board are independent per the UK Corporate Governance Code’s guidance on tenure periods and consistent with best practice.
Robert Pickering, currently Senior Independent Director, will succeed Carla as Non-Executive Chair of the Group Board; and Sarah Ing, currently Non-Executive Director, will succeed Robert as Senior Independent Director. These changes will be effective as of 30 September 2023 and are subject to regulatory approval. Additional new appointments to the Board will be announced in due course.
Robert joined Marex’s Board in September 2021. He began his long career in the City at Cazenove, where he spent 23 years building its financial advisory practice and growing its wealth management division, becoming its first Chief Executive at the age of 41. Robert negotiated and led Cazenove’s highly successful joint venture with JP Morgan in 2004. Since leaving Cazenove in 2008, Robert has served as an advisor to Boards and as an INED mainly in financial services including at Itau BBA, the investment banking arm of Itau Unibanco, CLSA and Neptune Investment Management, as well as Hikma Pharmaceuticals.
Sarah joined Marex’s Board in July 2021 and serves as Chair of the Audit and Compliance Committee. She is an experienced Non-Executive Director in the financial services sector. Sarah has over 30 years’ experience in accountancy, investment banking and fund management, including founding and running a hedge fund business. She was also a consistently top-rated equity research analyst covering the diversified financial sector. Sarah is an INED and Committee Chair at CMC Markets Plc, XPS Pension Group plc and Gresham House Plc.
Carla commented, “It has been a privilege to serve on the Marex Board since 2014, spanning roles such as Chair of the Remuneration Committee, Chair of the Audit and Compliance Committee and as Group Board Chair since 2019. The business has grown, diversified and strengthened exponentially in that time and I am proud of all that the Marex team and Board have achieved. I wish everyone at Marex all the very best for the future.”
Lord Fink commented, “I am proud and honoured to have served on the Marex Board for the past 13 years; and delighted to be leaving at a time when the firm’s management team, business position and profitability are all so strong – and that the firm is so well positioned for ongoing success.”
Robert commented, “I am tremendously excited to have been appointed Chair of the Marex Board at such an important point in its development. Over the past few years, Marex has grown profits rapidly while simultaneously evolving from a commodities broker and market maker into a diversified, global financial services platform, servicing clients in the energy, commodities and financial markets. I would like to pay tribute to Carla’s calm and effective leadership of the Board throughout this period of rapid growth and organisational change. I would also like to thank Stanley for his invaluable contribution to the Board during his long tenure.”
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