Former EU commissioner Charlie McCreevy has been named a non-executive director of the spread-betting company WorldSpreads.

The Dublin-based group said the former Fianna Fáil minister for finance will take an 'active part' in the company's growth throughout Europe, developing new partnerships with banks, stockbrokers and other financial third parties, in line with its growth strategy.

Mr McCreevy (61) served as EU commissioner for internal market and services between 2004 and 2010. He also previously served as minister for social welfare and for tourism and trade during the 1990s.

He currently holds non-executive positions at Ryanair, Sports Direct International and at Bank of New York Mellon Clearing International.

Last year, Mr McCreevy was forced to step down from the board of NBNK Investments over concerns his appointment might be in contravention of EU conflict of interest rules. It marked the first time that a former member of the EU executive had to resign a directorship since the current system for overseeing the work of retired commissioners was introduced in 2003.

Speaking today, Mr McCreevy said he was pleased to make his export promotion experiences available to assist WorldSpreads.

"Spread trading has quickly evolved into a mainstream financial service throughout the UK and Europe. WorldSpreads has demonstrated that it has the professional capability to penetrate these markets," he said.

Ordinary non-executives of the group, which include former Manchester United and Republic of Ireland full-back Kevin Moran, earned between €20,000 and €30,000 in salaries and fees in 2010, according to the firm's accounts.