A board member at Ashmore Group, the London-listed emerging markets fund manager, has resigned after a year to become the number two at CMC Markets, the online derivatives trading platform founded by UK billionaire Peter Cruddas.

Jim Pettigrew joined the board of Ashmore as chief operating and financial officer in July last year ahead of the group's flotation in October. He is leaving to become chief executive at CMC, but will stay until a replacement is found, Ashmore said in a statement today.