Foley steps down as betting chief

Conor Foley has stood down as chief executive of international spread-betting firm Worldspreads with immediate effect and has resigned from the board of the company he co-founded 12 years ago.

He will retain his position as the company’s largest shareholder, remaining “fully supportive of the group’s strategy and expansion plans”.

Mr Foley founded Worldspreads with Brian O’Neill in Dublin in 2000. It specialises in financial spread-betting and online share trading services. Nine years after that, Mr O’Neill headed a management buyout of the group’s Irish operations, with Mr Foley going on to head Worldspreads from its London base.