Retail FX giant FXCM (NYSE:FXCM) has promoted Michael Higgins to the position of Director of Institutional Sales for the Europe, Middle East and Africa regions.
Mr. Higgins assumes his senior executive position within the world’s largest retail FX firm as the latest progression in his nine year tenure at FXCM, having joined the company’s Active Trader Groip in 2005, subsequently serving within that particular division for four years.
A significant career progression beckoned in October 2009 when Mr. Higgins was promoted to Vice President at FXCM Pro, the company’s institutional division which provides a series of FX execution and treasury solutions.
Five years with FXCM Pro stood Mr. Higgins in good stead for his first Directorship position, at a time when FXCM continues to sharpen its bow by acquiring not only specialist niche firms such as Faros Trading in order to gain presence in new industry sectors, but also at a poignant time in which FXCM is firmly engaged in a campaign of acquiring entire client bases from prominent FX firms in the quest for economies of scale.
Regardless of the FX industry’s extended period of low volatility worldwide, which FXCM CEO Drew Niv recently deemed “a period of low volatility only seen twice in the last 20 years” the firm has made keen investments and grown substantially during the last few months, emerging as a strong force among US based firms just as the period of low volumes is beginning to subside, giving way to a sudden upturn in fortunes for many firms as September’s trading volumes begin to be revealed.