IG Group asked shareholders to approve a new parent company based in Jersey, a move the FTSE 100 trading firm says will give it more room to maneuver as it weighs bigger changes to its shape and where its shares trade.

The proposal came today (Wednesday) alongside a trading update showing revenue for the six months through June rose about 18% to roughly £643 million.

Both announcements flow from the strategic review IG launched in March, which is still running and is due to report back in the autumn.

Jersey Structure Adds Options IG Says It Won’t Use Yet

Under the plan, IG Group Holdings would sit beneath a new Jersey-incorporated holding company, with investors swapping their existing shares one-for-one.

The reshuffle would run through a court-approved scheme of arrangement and needs sign-off from the Financial Conduct Authority and other regulators. IG expects it to take effect in the final quarter of 2026, with a shareholder circular due in the third.

The company was at pains to stress what would not change. Its shares would stay on the London Stock Exchange and keep their index eligibility, the group would remain UK tax resident with no change to its effective tax rate, and its London offices and employees would carry on as before.

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IG said the new structure would give it greater financial flexibility and better reflect a business that now earns around two-thirds of its revenue outside the UK.

What the firm did not spell out is where that flexibility might lead. A Jersey topco is a common step for London-listed companies that later want to shift their primary listing or pursue deals, and IG has already floated both.

Bloomberg reported in March that the group was weighing a move to New York, and Wednesday’s statement again listed potential changes to its listing venues and “combinations of parts of the Group with other industry participants” as options on the table.

London’s Listed Brokers Weigh Where to Trade

IG is not alone in fielding questions about its listing and valuation. Plus500, its closest London-listed peer, publicly explored a US listing as far back as 2023 and has leaned on capital returns to keep shareholders onside, running a $100 million buyback this year as it told investors 2026 revenue and EBITDA would come in above market forecasts.

CMC Markets has taken a similar route, funding repeated buybacks while pushing beyond contracts for difference into stockbroking and other non-OTC lines.

That expansion into cash equities and investing has become a shared theme across the cohort, with both Plus500 and IG chasing US futures revenue through acquisitions rather than building from scratch.

Regional Divisions Fold into One Consumer Unit

IG is also redrawing its org chart. Three regional arms covering the UK and Ireland, Europe, and Asia-Pacific and the Middle East will merge into a single consumer division led by Michael Healy, who becomes CEO of IG Consumer.

Customer-facing technology, operations and the recently acquired crypto exchange Independent Reserve fold into that unit, as does the neobroker Freetrade.

North America and the institutional business stay separate. Michael Vaughan keeps his role running IG North America, while Andy Biggs takes over a rebranded institutional arm as CEO of IG Securities.

The changes take effect in the second half of 2026, and IG said its reporting format for the current half is unchanged.

The reshuffle follows an annual report that flagged rising staff turnover and negative morale scores even as revenue hit records, a gap between management’s high-performance framing and colleague sentiment that IG has said it is tracking through monthly surveys.

Reported Growth Outpaces Organic Gains

The trading update carried the sort of headline growth rates that reward a closer look. First trades jumped about 107% on a reported basis, but stripped of acquisitions the organic figure was 74%.

The spread was wider for customers: active customer numbers rose roughly 66% as reported, and just 13% organically, a reminder that much of the top-line momentum came from bolting on Freetrade and Independent Reserve rather than from IG’s existing platforms.

The group reiterated the full-year guidance it upgraded in May, when first-quarter organic revenue climbed 19%.

It still expects organic revenue excluding Freetrade and Independent Reserve to grow 10% to 15% this year off a 2025 base of about £1.1 billion, with EBITDA margins in the mid-40s percent range and net interest income of £110 million to £120 million.

Full interim results, and any more detail on the Jersey plan, are due on July 31.

This article was written by Damian Chmiel at www.financemagnates.com.BrokersRead More

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