New York—May 15, 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 its Board of Directors has appointed Brendan Callan as Chief Executive Officer of FXCM Group. Mr. Callan, who joined FXCM Group in 2001, has been FXCM Group’s interim CEO since February 21, 2017.
“Leucadia National Corporation (NYSE: LUK) (“Leucadia”) and the FXCM Group board believe that Brendan is ideally suited to be FXCM’s CEO,” said Jimmy Hallac, chairman of the board of FXCM Group and Managing Director of Leucadia. “He combines deep knowledge of FXCM and its customers with the values that have served Leucadia’s investee companies so well: putting clients first, building a culture of transparency, communication and support among employees, and being responsive to all stakeholders.”
As interim CEO of FXCM Group, Mr. Callan successfully led the company after its withdrawal from the retail foreign exchange business in the U.S. Mr. Callan was previously the CEO and President of European Operations of FXCM Group since 2010, a period during which Mr. Callan developed Forex Capital Markets Limited (“FXCM UK”) into FXCM Group’s largest operating subsidiary.
“I am extremely excited for the opportunity to continue building upon FXCM’s global platform,” said Mr. Callan. “We will continue to work diligently to establish FXCM as the leading online retail FX and CFD trading venue in each of the regions we operate. We intend to do so by addressing the needs and goals of our customers, employees, regulators, business partners and equity owners.”
Rich Handler, Chief Executive Officer, and Brian Friedman, President of Leucadia, both of whom also serve as board members of FXCM Group, stated: "We have been impressed by Brendan’s leadership and steady hands over these last few months and reaffirm our long-term commitment to FXCM. We believe that, together, Leucadia and FXCM can further strengthen FXCM’s platform and are excited about FXCM’s prospects for success.”
About FXCM Group, LLC
FXCM Group 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. FXCM Group is a holding company of Forex Capital Markets Limited, inclusive of all EU branches (FXCM UK), FXCM Australia Pty. Limited (FXCM AU), and all affiliates of aforementioned firms.
About Leucadia National Corporation
Leucadia is the majority economic owner of FXCM Group. Leucadia, with a $46 billion balance sheet as of March 31, 2017, is a diversified holding company that invests in a broad array of businesses. Leucadia’s financial services businesses and investments include investment banking and capital markets (Jefferies), asset management (Leucadia Asset Management), foreign exchange trading services (FXCM), real estate (HomeFed), commercial mortgage banking and servicing (Berkadia), and vehicle finance (Foursight). Leucadia’s merchant banking businesses and investments include beef processing (National Beef), a diversified holding company (HRG), oil and gas exploration and production (Vitesse Energy and Juneau Energy), automobile dealerships (Garcadia), manufacturing (Idaho Timber), telecommunication services in Italy (Linkem), and a gold and silver mine (Golden Queen).
Jaclyn Sales, 646-432-2463
Vice-President, Corporate Communications
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws that are subject to the safe harbor created by such laws and other legal protections. Caution should be taken not to place undue reliance on any such forward-looking statements because actual results may differ materially from the results suggested by these statements. These forward-looking statements are made only as of the date of this presentation. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part I, “Item 1A. Risk Factors” and elsewhere in Leucadia’s Annual Report on Form 10-K for the period ended December 31, 2015 and those described from time to time in our periodic and other reports filed with the Securities and Exchange Commission.