LeapRate Exclusive… LeapRate has learned that FCA regulated FX and CFDs broker Walbrook Capital Markets Limited has been renamed ITI Capital Limited.
Beyond its formal company name, the company’s operating brand has also been changed, from Walbrook Capital to ITI Capital. However, at least for the time being, the broker’s website url remains at walbrookcapitalmarkets.com.
This actually marks the second rebranding for Walbrook / ITI in less than two years.
Walbrook was originally known as FXCM Securities, the UK CFD arm of Global Brokerage Inc (NASDAQ:GLBR) unit 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 to 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 earlier this year to ITI Group, a Russian focused brokerage, which received backing for the deal from Russian venture investment firm Da Vinci Capital.
Last week we exclusively reported that ITI brought in Instinet and Liquidnet veteran John Barker as the new Chairman of the company, 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.