LeapRate Exclusive… LeapRate has learned that FCA regulated multi-asset broker Walbrook Capital Markets Limited is restructuring its operations, with the main change being that it has tapped board member Conor Ringland to replace Paul Inkster as its CEO.
We understand that Inkster will remain with Walbrook, with a more commercial role (and a different title), while Ringland will be charged with the key strategic role at the company.
Conor Ringland joined Walbrook’s board as a non-executive director back on June 22, but he certainly has experience in the operation of a Forex and CFD brokerage. Ringland was previously Head of the UK for Denmark-based Saxo Bank from 2007-2014, and has also worked at E*TRADE Financial Corp (NASDAQ:ETFC) and most recently as Head of Financial Markets – Digital at Lloyds Bank.
Paul Inkster spent less than one year in the CEO chair at Walbrook, joining the company in January of this year soon after Latvia-based Expobank acquired UK-based CFDs broker FXCM Securities (as was first reported exclusively at LeapRate) from FXCM Inc (NASDAQ:FXCM), and renamed it Walbrook Capital Markets.
Inkster had joined Walbrook after another brief less-than-a-year stint as head of the UK office for New York based Forex broker consultancy Shift Forex. Inkster had also worked at Barclays, MF Global, and Credit Suisse.
Walbrook (while it was still named FXCM Securities and run by FXCM) did £4.28 million in revenues in 2014, but saw its business severely damaged by the reputational hit taken by FXCM after the January 2015 Swiss Franc spike and FXCM’s close brush with bankruptcy. Walbrook’s 2015 revenues dropped 31% to £2.97 million, and the company posted a £2.4 million loss. However that all took place before Expobank bought the company, and the current management team was put in place.