New York—February 21, 2017 – FXCM Group, LLC (“FXCM Group”), a leading international provider of online foreign exchange trading, CFD trading, spread betting and related services, today announced that Brendan Callan has been promoted to interim Chief Executive Officer of FXCM Group. Mr. Callan, who joined in 2001, has been the Chief Executive Officer and President of European Operations since 2010, a period during which Mr. Callan developed Forex Capital Markets Limited (“FXCM UK”) into FXCM Group’s largest operating subsidiary. Mr. Callan will be replacing Drew Niv, who has resigned as Chief Executive Officer and a Director of FXCM Group, and will serve in an advisory role. In addition, William Adhout will be resigning as a Director of the Board of FXCM Group.
FXCM Group also announced that Jimmy Hallac has been appointed Chairman of FXCM Group. Mr. Hallac is a Managing Director of Leucadia National Corporation (“Leucadia”), which came to the aid of FXCM following the unpegging of the Swiss Franc by the Swiss National Bank in January 2015, and holds a significant interest in FXCM Group. The six-member Board of Directors of FXCM Group will now consist of Mr. Hallac, Rich Handler, CEO of Leucadia, Brian Friedman, President of Leucadia, David Sakhai, Chief Operating Officer of Global Brokerage, Inc., Robert Lande, Chief Financial Officer of Global Brokerage, Inc., and Kenneth Grossman, Managing Director of Global Brokerage, Inc.
Global Brokerage, Inc. will become the new name of the former FXCM Inc., which will be changing its name expected to be effective February 27, 2017, to avoid any possible confusion among customers or others. Global Brokerage, Inc. owns an equity interest in FXCM Group.
Commenting on the appointments, Leucadia’s Messrs. Handler and Friedman stated: “We are very excited to have Brendan and Jimmy in their new roles. We believe that, under their leadership, FXCM Group will be able to continue to enhance and grow its global platform and customer offering. Brendan and Jimmy share our deep commitment to always putting clients first, maintaining and building a culture of transparency, communication and support among employees, and responding to the needs and goals of all relevant constituencies, including FXCM's customers, employees, regulators, business partners and equity owners.”
About FXCM Inc.
FXCM Inc. (NASDAQ:FXCM) is a publicly traded company which owns 50.1% of FXCM Group, LLC (FXCM Group).
FXCM Group is a holding company of Forex Capital Markets LLC, (FXCM US), Forex Capital Markets Limited, inclusive of all EU branches (FXCM UK), FXCM Australia Pty. Limited, (FXCM AU), and all affiliates of aforementioned firms, or other firms under the FXCM group of companies [collectively "FXCM"]. FXCM Group is owned by FXCM Inc. (NASDAQ:FXCM) and Leucadia National Corporation (NYSE:LUK). Leucadia National Corporation is a multi-billion dollar diversified holding company engaged through its consolidated subsidiaries in a variety of businesses.
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. The company's mission is to provide global traders with access to the world's largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. In addition, FXCM offers educational courses on FX trading and provides trading tools proprietary data and premium resources. FXCM Pro provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity, while providing high and medium frequency funds access to prime brokerage services via FXCM Prime.
Trading foreign exchange and CFDs on margin carries a high level of risk, which may result in losses that could exceed your deposits, therefore may not be suitable for all investors. Read full disclaimer.
Jaclyn Sales, 646-432-2463
Vice-President, Corporate Communications