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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that FCA regulated broker ITI Capital Limited has made another addition to its senior management team, hiring Richard McCall as the company’s new COO.
Richard McCall was with proprietary trading firm Sun Trading International for the past four years, as its COO. Prior he was COO – EMEA Equity Derivatives in the London office of Citi, and Director, Electronic Execution Sales at Merrill Lynch. It was at Merrill Lynch where Mr. McCall worked with ITI’s CEO Max Hayden.
ITI Capital was originally known as FXCM Securities, the UK CFD arm of retail FX broker FXCM. FXCM sold the company in late 2015 to Latvian billionaire Igor Kim’s AS Expobank, as part of FXCM’s program to sell assets and businesses in order to repay its large loan from Leucadia.
Expobank renamed the company Walbrook and brought in a couple of new CEOs over its short tenure as owner, neither of whom was able to grow the business. Walbrook posted a £4.0 million (USD $5.2 million) loss in 2016 amid plunging revenues. Last at the helm as CEO under Expobank was Conor Ringland, who was previously Head of the UK for Denmark-based Saxo Bank from 2007-2014, had also worked at E*TRADE Financial Corp (NASDAQ:ETFC) and most recently was Head of Financial Markets – Digital at Lloyds Bank.
Expobank then turned around and sold Walbrook last year to ITI Group, a Russian focused brokerage, which received backing for the deal from Russian venture investment firm Da Vinci Capital. The company was re-renamed ITI Capital, and ITI brought in Instinet and Liquidnet veteran John Barker as the new Chairman of the company, and Max Hayden as CEO, as part of its plans to strategically build out a significant prime brokerage business for the institutional and high net worth community. ITI is apparently looking to make further acquisitions in order to build and grow its position in the markets.