Ayondo's COO departs, one week after CFO's resignation

TRADING platform developer Ayondo announced on Thursday night that its chief operating officer (COO) Edward Drake has left his position effective June 13, following the completion of the disposal of unit Ayondo Markets Limited.

Mr Drake had been in the position since September 2008 and was responsible for the day-to-day management of Ayondo Markets Limited's operational hub in London, trading and market risk management, group operations and compliance.

He was also responsible for data management, data evaluation and data monetisation.

The company's sponsor UOB Kay Hian Private Limited said that it is not aware of any material reasons for the cessation of Mr Drake as the COO of the group.

This comes after the departure earlier this month of chief financial officer (CFO) Sean Downey, who quit in under one year over "differences with the management" regarding Ayondo Markets Limited.

Shares of Ayondo have been suspended from trading since Feb 1 and were last traded at S$0.048.