Argentex CEO, CFO Resign

This is a Argentex news story, published by Yahoo Finance, that relates primarily to Jim Ormonde news.

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Argentex employee

Reuters

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Business

Business & Economics

From rebound to rescue: how Argentex collapsed on untested currency swings

Summary

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79% Informative

Argentex was one of the first high profile corporate victims of market volatility set off by global trade war.

CEO Jim Ormonde and CFO Guy Rudolph were buying shares in the London -listed foreign exchange broker as the stock rebounded from a March slump.

In the year to date , its shares had rallied more than 50% . What followed was a dramatic swing in financial markets and a dizzying decline in its liquidity position.

The FCA declined to comment when contacted by Reuters for this story.

In February , the FCA said it remained concerned there were still risks to consumers and financial system integrity.

This week , Argentex shares resumed trading and plunged 91% .

The company said it had secured a 20 million pound loan from IFX Payments and announced finance chief Rudolph had resigned.

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Neutral language

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formal

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English

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