The FX broker, GKFX, had a change of guard today as its CEO, Brian Myers resigned today. There has not been any specific reason that has been attributed to this resignation and in fact, there has not been any kind of hints that such an event was on the horizon. It did come as a blow to the company though they have already taken the subsequent action by appointing their CFO, Rod Martenstyn as their CEO almost immediately.
Both sides did not give any specific reason for this action with the company wish Brian well while he thanked the company for giving him the opportunity in this role. This is as diplomatic as a departure can get. The company is regulated by the FCA and hence this change would require their approval as well.
Brian has been well known in the Fx circles having begun his journey with SVS securities way back in 2006. His journey in the trading industry took him to FXCM at their heydays where he was Premium Clients Manager and he also travelled to the Alpari UK division where he was the global head of sales. He also worked with Oanda Europe which completed his journey with all of the top brokerages that were present in the industry at that point of time.
He became the CEO of GKFX only in December 2017 and hence his departure just a few months after becoming the CEO is likely to be spoken about in the industry circles for quite some time for its timing. This is going to be the time when the FX industry is going to be exposed to even more regulation in the coming months with the need for capital being increased and also the leverages being reduced all across the pairs with the lowest being 1:30 for the major pairs. This is going to impact the retail industry in a severe manner.