UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 24, 2020
INTERACTIVE BROKERS GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
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Delaware |
001-33440 |
30-0390693 |
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(State or Other Jurisdiction
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(Commission File Number) |
(I.R.S. Employer Identification Number) |
One Pickwick Plaza, Greenwich, CT 06830
(Address of Principal Executive Offices) (Zip Code)
(203) 618-5800
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Title of each class |
Trading Symbol |
Name of the exchange on which registered |
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Common Stock, par value $.01 per share |
IBKR |
The Nasdaq Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company □
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □
Item 5.02. Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 24, 2020, the Board of Directors (the “Board”) of Interactive Brokers Group, Inc. (the “Company”) appointed Ms. Nicole Yuen to serve as a director of the Company, effective July 1, 2020.
Ms. Yuen is a seasoned investment banker with more than 20 years’ experience. Ms. Yuen most recently served as Managing Director, Head of Equities – North Asia and Vice Chairman – Greater China for Credit Suisse. During her 6-year tenure, she led the build-out of Credit Suisse’s brokerage business in mainland China and oversaw the bank’s equities business in North Asia.
Ms. Yuen will receive the same compensation as the Company’s other non-employee directors. The compensation program is described in the Company’s Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (“SEC”) on March 11, 2020.
The Board has determined that Ms. Yuen is “independent” under the rules of the Nasdaq Stock Market LLC and the SEC. Ms. Yuen has no family relationships with directors or other executive officers of the Company and is not a party to any transactions requiring disclosure under Item 404(a) of Regulation S-K. There is no arrangement or understanding between Ms. Yuen and any other persons pursuant to which Ms. Yuen was selected as a director.
A copy of the Registrant’s press release relating to this director appointment is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item. 9.01 Financial Statements and Exhibits.
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Exhibit No. |
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: June 29, 2020
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INTERACTIVE BROKERS GROUP, INC. |
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By: |
/s/ Paul J. Brody |
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Name: |
Paul J. Brody |
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Title: |
Chief Financial Officer, Treasurer
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Exhibit 99.1
Interactive Brokers Appoints Nicole Yuen to its Board of Directors
GREENWICH, Conn. June 29, 2020 – The Board of Directors of Interactive Brokers Group, Inc. (Nasdaq: IBKR) today announced the appointment of Nicole Yuen as an independent director of the firm effective July 1, 2020.
“Nicole Yuen has deep expertise in building and managing top-ranked securities businesses in Asia and is known for her pioneering efforts in internationalizing China’s capital market,” said Thomas Peterffy, Chairman of the Board for Interactive Brokers Group. “Asia is an important and growing market for our firm, so we are particularly fortunate to have someone with Nicole’s knowledge and experience on our board.”
A seasoned investment banker with more than 20 years’ experience, Ms. Yuen most recently served as Managing Director, Head of Equities – North Asia and Vice Chairman – Greater China for Credit Suisse. During her 6-year tenure, she led the build-out of Credit Suisse’s brokerage business in mainland China and oversaw the bank’s equities business in North Asia.
Before joining Credit Suisse, Ms. Yuen worked at UBS for 18 years and oversaw the firm’s equities business in Hong Kong and led the expansion of the business into mainland China. Earlier in her career, Ms. Yuen served on the China Securities Regulatory Commission Listing Committee and practiced law in the US, UK, and Hong Kong. She served as a partner at Clifford Chance and worked for Cleary Gottlieb Steen & Hamilton.
During her career in investment banking and equity capital markets, Ms. Yuen led high profile capital market fundraising transactions in the Greater China region, including the first H share, Red chip and B share listings, as well as landmark government privatizations in Hong Kong.
Ms. Yuen is active in public duties. Among others, she serves as a member of the Process Review Panel of the Hong Kong Government Securities and Futures Commission, a member of the Advisory Board of the Hong Kong Government Census and Statistics Department as well as a member of the Operations Review Committee of the Hong Kong Independent Commission Against Corruption. She is a graduate of University of Hong Kong and Harvard Law School.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, and foreign exchange around the clock on over 135 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars in its February 24, 2020, Best Online Broker Review.
Contacts
For Interactive Brokers Group, Inc.
Investors: Nancy Stuebe, 203-618-4070
Media: Kalen Holliday, 203-618-4069 or media@ibkr.com