LSE’s long-serving CFO Tim Powell joins Alpha FX
Foreign exchange service provider Alpha FX Group PLC (LON:AFX) continues its investment in new executive talents with the hiring of Tim Powell as its chief financial officer (CFO).
Powell brings to the role more than two decades of experience overseeing finance operations for top-tier organizations. He spent the bulk of his career with London Stock Exchange, having held senior roles during his 17-year tenure with the UK’s top bourse.
As CFO at Alpha FX, Powell will be responsible for ensuring that the finances of the company can enable it to continue to drive growth, capitalizing on the growing worldwide demand for its solutions. Reporting to CEO Morgan Tillbrook, he will be tasked with finance functions including controllership, tax, internal audit, financial planning and analysis, treasury and investor relations.
“Tim was responsible for functions covering a cost base of over £800 million, with over 13,000 employees, whilst the LSEG had grown income to over £7 billion with a £40 billion plus market capitalisation,” the statement reads.
In 2017, Alpha FX obtained its regulatory license from the Financial Conduct Authority (FCA) in Britain. The authorisation came just three months after the firm began the live trading of its shares on the AIM market of the London Stock Exchange (LSE).
The UK-based FX service provider, which manages exchange rate risk for domestic corporates, is now operating as a BIPRU investment firm. This was the third regulatory authorisation that Alpha FX Limited has applied for and obtained in order to build up and expand its global business. The company is licensed by the FCA as an authorised payment institution, and is also registered with HM Revenue and Customs as a money services business.
The group caters to a wide range of clients, including medium sized corporates that deal with currency conversion, international commerce, and payrolls.
Commenting on the appointment, Chief Executive Morgan Tillbrook said: “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.”
