LeapRate Exclusive… LeapRate has learned that longtime ETX Capital executive Joe Rundle has resigned from the company.
Rundle had been with the FCA-regulated ETX for more than 12 years, and along with ETX CEO Andrew Edwards was one of the few remaining employees at ETX dating back to before the company’s takeover by an investor group led by JRJ Group’s Jeremy Isaacs and Roger Nagioff in 2007.
Joe Rundle’s title at ETX was Head of Trading, however he was involved beyond the trading floor in a number of the company’s key business development initiatives. Most recently, Mr. Rundle spent a lot of time going back and forth to Shanghai building up ETX’s presence in China and the Far East. He was also involved in setting up country-specific partnerships for ETX in various European countries – ETX has had success partnering with specific reps in several individual countries on the continent.
Last year, one of Rundle’s major projects was the rebranding at ETX Capital (new logo, website…) including the launch of a new unified trading platform at ETX.
So why did Joe Rundle leave ETX?
A senior source at ETX Capital told LeapRate that the company and Mr. Rundle parted on good terms. The source told LeapRate that Mr. Rundle was indeed an important part of the growth story at ETX the past few years and he is definitely ‘CEO material’. However Mr. Rundle 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), has been very successful at growing the company and is unlikely to vacate his position any time soon.
ETX also recently hired Arman Tahmassebi as its new COO, another young (39) executive with experience in senior positions at London Capital Group Holdings plc (LON:LCG) and IG Group Holdings plc (LON:IGG).