Office space provider IWG appoints Charlie Steel as CFO

Steel will join the board before the end of the year. Meanwhile, Hughes will remain with the business for a transitional period to ensure a smooth handover.

Steel joins IWG from Babylon Holdings, a digital health delivery and AI diagnosis business. IWG said that as CFO at Babylon, he was heavily involved in the formulation and execution of strategy and played a leading role in the build-out of teams, systems, processes and new geographies at the company.

Prior to Babylon, Steel was global head of Corporate Development at CMC Markets and was also a vice president in the investment banking division at Deutsche Bank.

IWG chairman Douglas Sutherland said: "We are delighted that Charlie will be joining the IWG board as CFO. He brings highly relevant experience that will prove tremendously useful to IWG and we look forward to working with him as we continue to enhance our digital platform and capital light model supporting accelerated growth.

"On behalf of the board, I would like to take this opportunity to thank Glyn for his contributions during his time with IWG. He leaves the business and its balance sheet in a strong position to pursue our rapid growth ambitions. We wish him the very best for the future."