IG Group has initiated the second phase of its £150 million share buyback program, committing an additional £75 million to reduce share capital, with UBS AG managing the process. The company reported a 15% revenue increase in Q1 FY24, reaching £278.9 million, driven by higher earnings from derivatives, despite a slight decline in active customers. Additionally, IG Group plans to cut about 300 jobs, approximately 10% of its workforce, and has appointed Breon Corcoran as CEO, effective January 29, 2024.
