LeapRate Exclusive… LeapRate has learned that Jason Gibson has left London based institutional FX broker FIXI plc, to set up a new Retail FX brokerage brand called 888 Markets, at website 888markets.com.
The new business, formally incorporated as Triple Eight Markets Group Ltd, is acting as an Appointed Representative of FCA-regulated FIXI. The new company is a partnership between FIXI and Mr. Gibson, alongside several investors represented by Craig Marshak, who have put up most of the capital for the new venture. Craig Marshak is Chief Executive and Managing Director of VC firm Israel Venture Partners. Mr. Marshak was an adviser to online gaming giant 888 Holdings (which operates 888.com) in its early years. Mr. Marshak had acquired the intellectual property rights for using the 888 brand in the financial services sector.
Jason Gibson had been promoted from COO to CEO at FIXI in February 2018, as was also exclusively reported by LeapRate, following the departure of then-Managing Director Steven Reeves. Mr. Gibson had been COO of FIXI and Mr. Reeves’ #2 the previous two years, in charge of the company’s core Europe and MENA businesses. He has been with the AxiTrader / FIXI group for the past five years. Prior he was in senior management and trading roles at several FX firms including TradeNext, ETX Capital, GKFX and City Index.
We understand that Jason Gibson will remain as an adviser and consultant to FIXI, as his new venture continues its partnership with his former employer. FIXI itself is in the process of deciding on and appointing a new full-time CEO to replace Mr. Gibson.
FIXI plc is controlled by Australian entrepreneur Goran Drapac, also the founder and controlling shareholder of Australia based Retail FX broker AxiTrader. At around the time of Mr. Reeves’ departure and Mr. Gibson’s promotion to the CEO chair, FIXI’s shareholders led by Mr. Drapac invested an additional £2.2 million (USD $3.0 million) of capital into the company, and hired a number of senior executives, ahead of a planned expansion into Retail FX. Last month the company added Tom Tragett as Chief Market Analyst, and David Freeman as Head of Retail FX.