The Channel Islands Securities Exchange Limited (CISE) has today announced two changes to the board of directors.

Stephen Lansdown will step down from the board with effect from the Annual General Meeting in June to focus on his other significant business interests while Isle of Man-based Anderson Whamond has joined the board today.

The announcements come after an Extraordinary General Meeting where shareholders of the CISE approved changing the company name to The International Stock Exchange Group Limited (TISEG). This is part of a wider rebrand of the Exchange to The International Stock Exchange (TISE) with effect from 6 March and which precedes the launch of an office in the Isle of Man on 9 March.

Jon Moulton, Chairman of the CISE, said: “Steve was instrumental in the successful restructure of the Exchange business and I would like to pay tribute to his significant assistance as Deputy Chairman in guiding the CISE through its formative years and into a new era. We will miss him.”

Mr Moulton added: “At the same time, I am pleased to welcome Anderson to the board. He has worked for several different international institutions within the capital markets sector and, as such, he brings with him experience that will be invaluable as we expand the footprint of the business, including through our office in the Isle of Man.”

Mr Lansdown is co-founder and former Chairman of Hargreaves Lansdown PLC and he moved to Guernsey in 2010.

Mr Lansdown was appointed as a non-executive director of the Channel Islands Stock Exchange LBG (CISX) in May 2013. Following a restructure of the business towards the end of 2013, he became a founding non-executive director and Deputy Chairman of the CISE.

Mr Lansdown said: “The CISX was not in a great place at all when Jon and I joined its board, so while the restructure period was difficult, it was also necessary so that we could move the business forward. Since the formation of the CISE, we have made a number of major changes and passed some significant milestones. As an active shareholder, I will continue to take a keen interest in the business but now I can step away safe in the knowledge that the company is in very capable hands and ready for the next exciting phase of its development.”

Mr Whamond has over 30 years’ experience in the banking and financial sector.

He began his career in 1983 with part of what was the Credit Suisse First Boston group and worked for several international institutions before relocating from London to Hong Kong in 1996 to run the equity trading businesses of Peregrine Investment Holdings Limited. He became a director of the executive committee of the Peregrine group in 1997.

In 1998, Mr Whamond joined the Regent Pacific Group, a Hong Kong listed international emerging markets investments group as head of corporate investments and relocated to the Isle of Man. Mr Whamond joined the Charlemagne Group in 2002 and was a director of AIM quoted Charlemagne Capital Limited until March 2009. He remains a non-executive director of Charlemagne Capital (IOM) Limited and is also a director of a number of listed and non-listed investment companies.

Mr Whamond said: “I am delighted to be joining the CISE board of directors at such an exciting time in the life of the company. Jon and the rest of the team have done a fantastic job in the last few years and I am really looking forward to working closely with them in developing the business in a variety of aspects, especially the presence in the Isle of Man.”