Boss of Capital Spreads quits

THE CHIEF executive and co-founder of spread betting firm Capital Spreads stepped down yesterday, as parent firm London Capital Group swung to a £200,000 annual loss.

Simon Denham, who leaves after a decade at the helm, will be replaced by Mark Slade. Revenues at LCG fell by 27 per cent to £28.6m, which the Aim-listed firm blamed on calmer markets.