First Derivatives launches process to appoint new CEO

Maria Nikolova

FD has confirmed that Chief Executive Officer Brian Conlon passed away on July 28, 2019.

Fintech company First Derivatives plc (LON:FDP) has confirmed that its Chief Executive Officer Brian Conlon passed away on July 28, 2019.

The Group says that it has initiated a process to appoint a new Chief Executive Officer and will provide an update on progress with that process in due course. In the interim period, Non-Executive Chairman Seamus Keating has been appointed Executive Chairman with immediate effect.

Seamus Keating commented: “Brian built a world-class business in First Derivatives. His drive, ambition and determination inspired all who had the privilege to work with him. This news is a profound shock to all of us. We offer Brian’s family our sincerest condolences and ask for privacy on their behalf at this sad and most difficult of times.”

A number of media sources, including BBC and Belfast Telegraph have earlier today reported that Mr Conlon, aged 53, has died.

In May this year, First Derivatives said Conlon had been diagnosed with cancer. In the face of this health condition, Mr Conlon remained as Chief Executive Officer during his weekly treatment, which included chemotherapy. The treatment was expected to last a number of months, the company explained back in May.

In July this year, Mr. Conlon sold 1.4 million shares in FD via an accelerated bookbuild. The shares, sold at a price of 3,060 pence each, were all sold to certain existing and new institutional investors.

Brian Conlon founded First Derivatives in 1996 and led its development. His background was in the capital markets sector where, following training with KPMG, he joined the risk management team in Morgan Stanley International, London. He then joined SunGard, a major global derivatives software house, as a capital markets consultant, during which time he worked with more than 60 financial institutions worldwide. He left in 1996 to set up First Derivatives.

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