Former PhillipCapital UK head Jon Regan to run green tech firm

The former chief executive of PhillipCapital UK Jon Regan has resurfaced at a green technology firm five months after the broker ceased trading in London.

Regan, who left PhillipCapital UK in May when its regulatory authorisation was cancelled, has this month resurfaced as chief executive of Nico Group, a technology firm that provides smart solutions in the construction industry.

Regan told Global Investor: “My former colleagues in financial services will be familiar with the perennial challenge of ensuring that disparate systems from different vendors talk to each other. They may however be surprised to learn this is also a significant challenge in other sectors including the construction industry.”

Regan, who joined PhillipCapital UK in April 2019 after 11 years at Aussie bank Macquarie, added: “I have recently become chief executive of Nico Group, which includes IM&M, a tech firm that develops intelligent building solutions. IM&M’s Smart Broker acts as a smart gateway between existing applications to realise real world efficiencies such as lower carbon emissions, better working environments and reduced operational costs.”

Many companies, including banks and other financial services firms, have been forced this year to think carefully about their offices after employees spent large chunks of the Covid pandemic working from home.

Some employees have been reluctant to return from home-working, forcing employers to try to improve their facilities, while firms have also started to think differently about the financial and environmental cost of running an office.

Regan added: “Among our solutions is the Occupancy Solution that enables a real-time overview of how workspaces are used, allowing firms to make smarter decisions about their offices. Typical workspace utilisation can be as low as 40%, whereas our solution can more than double this rate, ensuring that firms are getting more out of their real estate assets.”

He added: “The solution also allows firms to develop a better understanding of their energy use across their offices, enabling them to reduce their carbon footprint and overheads.

Regan left PhillipCapital UK, which offered execution and clearing services across foreign exchange, futures and options, in May when its license to trade was cancelled by the UK financial regulator.

The broker closed its futures and options business in late 2021, citing problems linked to the Covid pandemic, as first reported in Global Investor.

PhillipCapital UK continued this year offering foreign exchange and contracts-for-difference execution but this business was also closed when the Financial Conduct Authority cancelled the firm’s authorisation on May 11, as detailed on the FCA website.