Cornerstone FS appoints Bill Newton, Stephen Flynn to BoD
Cornerstone FS Plc (LON:CSFS), a cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces Board appointments. The company has appointed Bill Newton, Chief Information Officer, and Stephen Flynn, Chief Technology Officer, to its Board of Directors with immediate effect.
Both Bill Newton and Stephen Flynn will remain in their current operational roles and have become Executive Directors of the Company, with no changes to their remuneration packages.
Bill Newton has extensive operational experience within financial trading companies having worked in the industry for over 20 years. He co-founded ODL securities, a derivatives, equities and FX brokerage, where he held a number of senior management roles including IT Director. There, he designed various real-time risk and regulatory reporting systems and was responsible for all back-office development. He was subsequently appointed CIO for London Capital Group and managed a reorganisation of its core systems and infrastructure.
Mr Newton co-founded FXPress Payment Services Limited, which was acquired by Cornerstone in September 2020.
Stephen Flynn’s background prior to entering the technology world was in equity derivatives trading and risk management in London, Frankfurt and New York. He was employed by UBS as a senior structured product trader, CSFB as a market maker trading equity and equity index products, and Smith Newcourt as an equity derivative market maker. Mr Flynn joined Cornerstone in October 2020 having previously worked as a consultant to the Company and, along with Bill Newton, was responsible for designing and building the Company’s FXPal platform.
Elliott Mannis, Non-Executive Chairman, commented:
“We are delighted to welcome Bill and Steve to the Board and look forward to working with them as directors. They both bring a wealth of knowledge and experience based on their current operational roles in Cornerstone and having each worked in the financial services sector for over 20 years. We believe their appointment will benefit our Company as we continue to pursue our strategy of organic and acquisitive growth.”