LeapRate Exclusive… LeapRate has learned that Matthew Wright has left his CEO position at FCA regulated Retail FX broker Destek Markets, to become CEO of rival broker Capital Index.
The move comes less than a year after Mr. Wright was brought in to build a team and run the UK arm of Turkey-based Destek by controlling shareholder Altunc Kumova. Destek UK received its FCA license (Limited Licence – matched principal broker) at the beginning of 2017. Some of Mr. Wright’s hires over the past year include ex GKFX and Alpari executive Heiko Mueller as Chief Commercial Officer, and Rowena Harris-Doughty from London Capital Group Holdings plc (LON:LCG) as Marketing Director.
Prior to joining Destek, Matthew Wright was COO of the UK arm of Gain Capital Holdings Inc (NYSE:GCAP) for eight years, leaving late last year. Destek’s Istanbul-based Managing Director Tuna Yilmaz has replaced Mr. Wright on the board of Destek UK, and will be filling in for him as CEO until a replacement is hired.
At his new company Capital Index, Matthew Wright replaces co-founder Rob Woolfe as CEO. Mr. Woolfe left ETX Capital (where he was Head of FX) to found Capital Index in 2014 with financial backing from renowned Forex trader and entrepreneur Greg Secker. Mr. Woolfe quietly departed active management of Capital Index a few months ago with COO Joanne Page filling in since as interim CEO.
Capital Index is a fairly young Cyprus and London based company. After first receiving a CIF license from Cyprus regulator CySEC, the company quickly expanded to the UK with an FCA license in 2015.
Matthew Wright will formally take up his new position at Capital Index in January 2018.
Capital Index COO Joanne Page told LeapRate:
We are delighted that Matt is joining our company. Â His experience and knowledge of the industry is perfectly placed to steer us as we enter into a new year and a new regulatory horizon for our industry.
LeapRate also spoke with Matthew Wright about the move:
While I am very proud of what I accomplished, and of the great team I helped build at Destek Markets, I felt that the move to Capital Index was the right one for me and a great opportunity which I did not want to pass up.