Fis investor rep says she won’t run for Fis board chair

Dublin-based Fis Investment Management has confirmed it will not seek to contest the appointment of its new Fis chairman, but says it will continue to support its founder and board members.

Fis’ new chief executive and chairwoman were announced on Monday.

It is not yet clear whether they will remain on the board.

Last month, Fis posted its first ever profit, with a £1.1bn ($1.9bn) cash injection.

Its board included two former Fis employees and a former director, while the chairman was appointed by former chief executive John Dolan.

Fisch was founded in 2011 by former investment banker Paul Cavanagh.

It has invested in companies including Fidelity Investments, Paddy Power, Evernote, the Irish Football Association and Dublin City FC.

It was formed to take advantage of the growing demand for investment in digital assets, with the aim of boosting the number of active accounts in digital currencies.

Last year, the Fis Group posted a profit of £14.4m, with an additional £9.4 million going to dividends.