Marex announces departure of Roger Nagioff from the Group Board

Rhea-AI Summary

Marex Group (NASDAQ: MRX) announced that Roger Nagioff has stepped down from the Group Board after 15 years of service. Nagioff, a founding partner of JRJ Group, represented private equity investors on the Board. Prior to Marex's IPO in April 2024, private equity shareholders held approximately 96% of Marex stock. Following the IPO and two secondary follow-on offerings, their ownership has decreased to around 30%. Nagioff served on both the Risk Committee and Remuneration Committee. The company is currently searching for a new board member to fill the position.

Positive

• Successful transition from private equity ownership (96%) to public company with reduced PE holdings (30%)
• Demonstrated ability to execute IPO and two follow-on offerings within a short timeframe
• Company reports consecutive profitable growth

Negative

• Loss of experienced board member with 15 years of company knowledge
• Departure creates temporary gap in Risk and Remuneration committees

LONDON, May 15, 2025 (GLOBE NEWSWIRE) -- Marex Group Plc (NASDAQ: MRX), the diversified global financial services platform, announces today that Roger Nagioff has stepped down from the Group Board. Roger represented private equity investors on the Board.

Before Marex’s initial public offering (IPO) on Nasdaq in April 2024, private equity shareholders including JRJ Group held around 96% of Marex stock. Following the IPO and two successful secondary follow-on offerings, private equity owners now hold around 30% of Marex stock.

Roger was a member of the Board for 15 years and is a founding partner of JRJ Group. A process is underway to find a new member of the Group Board. He was a member of the Risk Committee and the Remuneration Committee.

Robert Pickering, Chair of Marex, commented: “We are sorry to be losing Roger from the Board, but we understand his decision to step down now that Marex is well established as a successful public company. Roger and JRJ have been an immense support to Marex since the original buyout 15 years ago, and we will greatly miss his wisdom and experience. On behalf of all of us at Marex, I’d like to thank Roger for his invaluable contribution and to wish him every success in the future.”

Roger Nagioff, JRJ, commented: “I’m truly proud of what Marex has been able to achieve and I am grateful to have been part of its growth and development for the last fifteen years. Having been part of this successful journey and having seen enormous growth – culminating in the IPO and two follow-ons – it is the right time for Robert, Ian and the rest of the Board to continue to the next level without me. I remain excited by Marex’s future potential.”

Ian Lowitt, Marex CEO, commented: “Roger and JRJ have helped us to build Marex into a business capable of achieving consecutive profitable growth. We have now transitioned successfully into a public company and Roger’s decision comes as we embark on the next stage of our development. I’d like to thank Roger for his support and friendship, and we wish him well in the future.”

About Marex:
Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. The Group provides comprehensive breadth and depth of coverage across four services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to 60 exchanges. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. With more than 40 offices worldwide, the Group has over 2,400 employees across Europe, Asia and the Americas. For more information visit www.marex.com.

Enquiries please contact:

Marex:
Nicola Ratchford / Adam Strachan
+44 778 654 8889 / +1 914 200 2508
nratchford@marex.com/ astrachan@marex.com

FTI Consulting US / UK
+1 919 609 9423 / +44 777 611 1222
marex@fticonsulting.com

FAQ

Why did Roger Nagioff leave Marex Group's (MRX) board?

Roger Nagioff stepped down following Marex's successful transition to a public company, with private equity ownership reducing from 96% to 30% after the IPO and follow-on offerings.

How long was Roger Nagioff on Marex Group's board?

Roger Nagioff served on Marex Group's board for 15 years, since the original buyout, and was a member of both the Risk Committee and Remuneration Committee.

What is the current private equity ownership in Marex Group (MRX)?

Private equity owners currently hold approximately 30% of Marex stock, down from 96% before the company's IPO in April 2024.

When did Marex Group (MRX) go public?

Marex Group completed its initial public offering (IPO) on Nasdaq in April 2024.

Who will replace Roger Nagioff on Marex Group's board?

A process is currently underway to find a new member for the Group Board, but no specific replacement has been announced yet.