LeapRate Exclusive… LeapRate has learned that FCA regulated broker GKFX has made a change in senior management, with Managing Director Jacob Plattner leaving the company in favor of hiring Joe Rundle (pictured at left) for the position.
LeapRate had reported exclusively at the beginning of the summer that Rundle had left ETX Capital (as Head of Trading) after more than 12 years at the up-and-coming UK Forex and CFD broker. We reported at the time that Joe Rundle and ETX parted on good terms, with Rundle being an important part of the growth story at ETX the past few years.
However Rundle, whom several industry insiders described to us as ‘CEO material’, felt that he was unlikely to move up to the CEO’s chair at ETX, since the current CEO Andrew Edwards is still very young (42) as is ETX’s recently hired COO Arman Tahmassebi, formerly of London Capital Group Holdings plc (LON:LCG) and IG Group Holdings plc (LON:IGG).
So it looks like Rundle will try to bring the success he had at ETX over to GKFX.
Departing GKFX is Jacob Plattner, who resigned his position as of July 1. Plattner joined GKFX last year after five years at Alpari. Plattner had served as COO of Alpari UK when the company filed for bankruptcy after the Swiss Franc spike of January 2015, which is still being sorted out today.
GKFX is an FCA regulated broker controlled by 30-year-old Turkish investor and Internet entrepreneur Kasim Garipoglu. Rundle’s new boss is GKFX CEO Serkan Arli, also a Turkish national. The company saw explosive growth from mid 2014 to 2015, with Revenues climbing more than three-fold from £16.3 million (fiscal year ended August 31, 2014) to £51.9 million last year.
However GKFX has not been resting on its laurels, and has continued to change up and build its management team. Other than adding Joe Rundle, GKFX recently added veteran CMC Markets research analyst James Hughes to be its Chief Market Analyst.
LeapRate spoke over the weekend with Joe Rundle and his new boss Serkan Arli. They had the following to say:
LR: Hi Joe, and congratulations on your new position. Can you please let us know a little more about GKFX and the people behind the company.
Joe: GKFX is now one of the top 10 Forex companies in the world. It has shown fantastic growth in the last few years and is now ready to take the next step of its growth cycle. The Group has grown in a mere six years to be a global financial technology company, with offices currently across 18 countries and a total workforce of 800 people.
LR: You left what seems to be a good company and situation in ETX Capital for this opportunity at GKFX. Can you let us know more about what attracted you to GKFX.
Joe: Whilst my role at ETX had expanded to beyond the trading element of the business, after 12 years at ETX I felt it was time to look for a more senior role. GKFX is a very well structured company that has an excellent global footprint which I will be able to offer a lot to whilst expanding my experience.
LR: Hi Serkan. Please let us know more about the decision to hire Joe, and why you thought he’d be a good fit for what you have planned for GKFX.
Serkan: With GKFX about to enter its next phase of growth we were looking for someone who has delivered growth and change through an increasingly crowded market. We felt that Joe offered a complimentary skill set to the current team and will help move the business to the next level.
LR: The FCA regulated broker market is getting increasingly crowded and competitive – not to mention the large incumbents in the UK. How do you see GKFX setting itself apart from the crowd?
Joe: The global market is getting increasing busy with many new companies coming to the scene, not only into the FCA market. I believe companies with a global footprint and best of breed technology and customer experience will be best placed to succeed. With these criteria in mind GKFX is in a fantastic position to succeed.
LR: What can we expect to see from GKFX going forward?
Joe: We are in a great position to grow in the coming months both globally and in particularly the UK market which traditionally has been a smaller part of the business. I expect continued innovation to the customer experience and acceleration to the growth GKFX has shown in the last couple of years.