BUSINESS

EU executive joins WorldSpreads

TAGs: Charlie McCreevey, European Union, WorldSpreads

worldspreadsWorldSpreads has announced that the former European Union Internal Market and Services Commissioner, Charlie McCreevy, has officially joined the company’s board as a non-executive director. McCreevy had been appointed as the EU’s Internal Market and Services Commissioner since 2004 until being replaced by Michel Barnier in December of 2009.

At WorldSpreads, McCreevy will leverage his affiliations and connections and will partake in the company’s expansion strategy throughout Europe. McCreevy will be charged with the responsibility of developing new partnerships with banks, stockbrokers and other financial third parties.

McCreevy was a strong supporter of gambling law harmonisation within the EU. The knock on McCreevy during his tenure was that he failed to enforce infringement procedures against member states with restrictive gaming legislations.

WorldSpreads CEO Conor Foley said in the release, “We see Europe as our growth market and we see developing strong partnership agreements as a key part of our growth strategy…From his position as EU Commissioner, Charlie McCreevy gained a unique insight into the EU financial services sector. He is therefore very well positioned to help us gain access to a set of select target partners and we are therefore confident that we will encounter some exciting new partnership prospects over the next two years.”

Charlie McCreevy said in the release, “Spread trading has quickly evolved into a mainstream financial service throughout the UK and Europe…WorldSpreads has demonstrated that it has the professional capability to penetrate these markets. I am very pleased to make my export promotion experience gained as a Minister and my knowledge of the UK and EU markets available to assist companies such as WorldSpreads. I look forward to working alongside its Board and management team to help the company fulfil its potential.”

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