The senior level changes at City Index have continued in full swing, this time with the departure of Chief Global Strategist Ashraf Laidi.
The departure of Mr. Laidi represents the latest in a series of senior City Index executives which have moved to pastures new following the firm’s acquisition by Gain Capital Holdings Inc (NYSE:GCAP) for $118 million.
In April this year, City Index CEO Mark Preston and Global Head of HR Martine Skinner left the firm.
In November last year, LeapRate discussed the proposed structure of the senior management of City Index post acquisition with GAIN Capital CEO Glenn Stevens, and in particular what lay in store for the immediate future for incumbent City Index CEO Mark Preston.
Mr. Laidi commented exclusively to LeapRate:
Basically, after three and a half years with City Index, and four years at CMC Markets as Global Chief Strategist, it is time to assume a more independent role, focusing on trading and strategy via my own website AshrafLaidi.com (formed seven years ago), which will serve as a platform for Intermarket Strategy Ltd, of which I am a CEO.
During his tenure at City Index, Mr. Laidi authored several analytical articles on the movement of the currency markets, a notable example being “Currency Trading & Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets”, a nine chapter publication which is available for sale to a retail audience in the form of a book.
Mr. Laidi joined City Index in January 2012 as Chief Global Strategist, a role in which he provided market analysis to City Index’s global client base, the media and the company’s key stakeholders, with a particular focus on currencies.
Prior to joining City Index, Mr. Laidi was Chief Market Strategist at CMC Markets in London where he spent five years, a role which was preceded by a six and a half year tenure at MG Financial Group as Chief FX Analyst between January 2000 and July 2006.
Mr. Laidi’s inaugural position as FX analyst dates back to April 1996 at First Federal Consulting, a firm which he joined from Reuters where he was an Emerging Markets Bond Analyst.
In 2011, Mr. Laidi founded Intermarket Strategy Ltd, a website which concentrates on the FX markets drawing from the relevant dynamics in G10 yields, equity indices and gold prices, a service which he continues to provide.