Exchange in board reshuffle

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The Independent Online
DAVID JONES, the founder of ShareLink, is expected to be voted on to the board of the Stock Exchange this summer in one of a number of boardroom changes following the appointment of Michael Lawrence as chief executive, writes David Hellier.

Mr Jones served on the Stock Exchange council, the forerunner of the board, between 1988 and 1990. When he left, he was reported to have felt frustrated by the Exchange's failure to understand the demandsof the private investor.

Mr Jones's shareholding in ShareLink, a telephone-dealing service for the private investor, became worth around pounds 9m when the company was floated on the stock market last July. ShareLink claims 300,000 clients and up to 10 per cent by number of bargains on the Stock Exchange.

Other changes to the Stock Exchange board are expected to include the retirement of Sir Michael Richardson, chairman of Smith New Court.

The Smith New Court presence on the board is likely to be filled by Michael Marks, its current chief executive.

A Stock Exchange spokesperson commented that under the Articles of Association one- third of the directors are able to retire at each annual meeting.

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