IG Group (LSE:IGG) has begun the first tranche of a new £125 million share buyback program,with Morgan Stanley & Co. International Plc appointed to execute purchasesunder pre-set parameters, the company disclosed in today’s (Wednesday) regulatoryfiling.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)The program,first announced alongside a positivefirst-quarter revenue update on 19 March, is divided into two tranches of up to £62.5million each. The first tranche runs from Wednesday and is expected to close by30 September 2026. IG Group said a separate announcement will be made ahead ofthe second tranche, subject to share price performance and other capitaldemands.Treasury Shares and AGMLimitsWednesday'slaunch extends a string of capital return programs the company has run inrecent years. IG's previous initiative, a £200 million buyback assembled in twostages, included a £75 millionextension announced in December 2025, bringing that program to its final tranchebefore completion.[#highlighted-links#] The companyhad flagged plans for the current £125 million initiative in its full-yearfiscal 2025 results,published in July 2025, when the board said it intended to launch therepurchase during the current financial year's first half.Allpurchased shares will move into treasury, and IG Group stated the program'ssole purpose is to reduce share capital. The buyback runs within the authorityapproved at the company's annual general meeting on 17 September 2025, underwhich a maximum of 36,155,787 shares remain available for repurchase.Barron Takes the ChairThe buybacklaunch coincided with a governance transition at the top of the company. AndrewBarron formally assumed the position of Board Chairman and Chairman of theNomination Committee on Wednesday, after the Financial Conduct Authoritygranted its approval of the appointment, IG Group said in a separate filingdated 31 March.Barron wasfirst named as Chair Designate and Non-Executive Director in early March, with the FCA's sign-off remainingthe final step before he could formally take over. Mike McTighe, who haschaired IG Group's board through a period of active capital returns andrestructuring, stepped down from both the chair and the board entirely as ofWednesday.Barron'sarrival comes at a moment when the company is weighing bigger structuraldecisions. A report published in March indicated that IG Group is reviewing apossible shift of its primary listing from London to New York, as it looks to deepen its presencein the US market, where its tastytrade brand operates.This article was written by Damian Chmiel at www.financemagnates.com.