Patsystems Seeks Jones’ Replacement

LONDON--Patsystems, the derivatives trading systems vendor, is actively seeking a replacement for chief executive David Jones, according to company sources.

Media reports have circulated that Jones had resigned his position with immediate effect as a result of the company’s flagging fortunes. But a senior company official, who wishes to remain anonymous, refutes these reports, explaining that the firm will only replace Jones when a suitable candidate has been found. Jones will then retain his