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Jay linked to the vacant top post at Ladbrokes

11 December 2014

 
LADBROKES on Tuesday night declined to comment on speculation linking their former sports and football director Patrick Jay with the soon-to-be-vacant chief executive's position at the bookmaker.

It was announced last week that Richard Glynn would be stepping down in the new year, five years after he joined the company from spread-betting firm Sporting Index.

Newspaper reports have linked Jay with the post, but a spokesman for Ladbrokes said on Tuesday it would be some time before the identity of Glynn's successor was announced.

"It's very early in the process," said corporate affairs director Ciaran O'Brien. "It's something which will take a matter of months so there is no point in speculating on it yet. Richard will be around for a few months yet."

It was announced in September Jay would be leaving the Hong Kong Jockey Club at the start of this month after almost five years as director of trading for one of the world's biggest betting operations.

Jay, who also had a stint with spread-betting firm IG Index, succeeded another former Ladbrokes stalwart Colin Miles at the HKJC in February 2010.

The grandson of former prime minister Jim Callaghan, Jay stressed he had taken the decision to leave Hong Kong for family reasons but said in September he would be "scanning the market" for opportunities in Britain.

"I'm not at all sure what happens next or what doors may or may not be open," he added.

"But I will be really happy to come home, get my Chelsea season ticket back and start the next chapter."

Although not quoted initially, Jay was on Tuesday night a 9-2 chance with Paddy Power to be appointed Ladbrokes' next chief executive.

He is vying with Ladbrokes long-servers Mike O'Kane and John O'Reilly, who was most recently at Coral, at the head of the market.

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