Playtech’s financial division TradeTech Group has strengthened its board with the appointment of Christian Frahm as a non-executive director.

Frahm is chief executive and founder of brokerage firm CFH Group, which was acquired by Playtech in 2016 to form a core part of TradeTech.

He will join the TradeTech board at the end of January, with CFH Clearing chief commercial officer (CCO) Marc Levin succeeding Frahm as CEO.

“I am extremely proud of the company we have built over the past ten years and feel very lucky that so many talented people have chosen to help us deliver value to our clients during that defining period,” said Frahm. “The partnership with Playtech two years ago has really helped us to accelerate and improve our offering, during that period we have seen extremely pleasing growth, significantly increasing client funds, volume and income.

“It now feels like the right time for me to take on a more strategic role as a non-executive director of the group and I look forward to capitalising on the huge potential that lies ahead.”

In addition to joining the TradeTech board, Frahm will continue as chairman of CFH Group and CFH Clearing.

Levin will take over as chief executive of CFH Group on 31 January, having joined the company in 2011 as institutional relationship manager, before being appointed CCO in 2017. Matt Maloney remains in his current role as chief executive of CFH Clearing.

“I am truly honoured and extremely excited to take on such an amazing role,” said Levin. “My skilled and passionate colleagues have been inspirational to work alongside, and I look forward to continuing to work with them for this company we feel such affection for.

“I trust that together, we will continue to develop and deliver the exceptional products that have delivered CFH amazing partners and loyal clients that we are proud to service every day.”

Commenting on the new appointments, TradeTech Group CEO Ron Hoffman said: “We are delighted to welcome Christian to the board. We recognise the huge success he has achieved since founding CFH Group and look forward to having his expertise and unparalleled insight in our board discussions.

“Marc’s proven track record as CCO means we are extremely confident in his ability to run the business and we look forward to working with him closely.”

Shares in Playtech plc. (LSE:PTEC) were trading down 0.15 per cent at 389.40 pence per share in London Thursday morning.

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