Winterflood CEO to step down after 27 years

Winterflood chief executive Julian Palfreyman is to retire from the company at the end of July after 27 years of service.

Palfreyman has been part of the Winterflood team since the company's creation in 1998, and chief executive since 2008. Philip Yarrow, himself a 14-year veteran of the market-making business, will replace Palfreyman as head of the business. He has been head of electronic trading at Winterflood since 2000 and a member of the board since 2002. Yarrow has also played a "key role" in developing Winterflood's liquidity platform and electronic trading capabilities, parent company Close Brothers said in a statement. Discussing Palfreyman's contribution, Close chief executive Preben Prebens...