Tower Trading Group executive chairman Alan Dickinson is to move to a non-executive director role as he steps away from the day-to-day management of the trading firm.

Jonathan Taylor, former head of Transtrend Group’s European operations, will assume the role of CEO. Taylor has been with the firm for three years.

He will be supported by a management team consisting of Christian Browne, Adrian Spires and Stephen Taylor.

Dickinson has been executive chairman of the London-based trading arcade since December having previously been CEO since 2008.

During the eight years he has been at the helm of TTG, the business has grown into a £10m turnover company servicing around 250 traders across the globe.

He will spend two days a week at TTG as part of his new role focusing on managing relationships with the firm’s clients and partners and acting as an ambassador for the industry.

The changes will be effective from the end of June.

Dickinson said: “I remain committed to TTG and am looking forward to focusing on growing our relationships with key clients, exchanges and infrastructure providers.

“I leave the day-to-day management firms in the hands of a younger management team who can give the commitment needed to continue to grow the business in a fast changing industry.”

Dickinson began his career in 1973 and built up Liffe clearing firm CBC into one of the largest independent clearers on the floor.

Following the sale of CBC to Fimat, now part of Societe Generale, Dickinson stepped back from the industry returning to run TTG in 2008.