The CySEC licensed, Online Retail Fx Brokerage Markets.com has appointed Joe Rundle as its new CEO. Joe Rundle is an experienced industry veteran and is joining Markets.com from ThinkMarkets where he was Director of Trading and Partnerships.
Joe Rundle has been in the Retail Fx and CFD space for more than 14 years and has started his career as a trader in 2001 at Saxon Financial. Later he moved to ETX Capital where he made up his way up to the ranks to become Head of Trading and Partnerships. In his 12 years stint in ETX Capital, he was overseeing the company’s risk trading desk, partnership programmes, PR and also led the ETX team through two major purchases of Alpari UK unit and Shelbourne Markets. After leaving ETX Capital, he also held a position of Managing Director at GKFX in August 2016.
The move to appoint Joe Rundle is very significant for the Markets.com as it comes at a time when most of the brokers in the European region are awaiting more information on final new rules on handling retail customers from European Regulator, ESMA. Also, Joe has been working throughout his career at London-based brokers which are FCA regulate, while Markets.com is Cyprus based and CySEC licensed broker.
Founded in 2010, Playtech has been putting more resources into the development of its retail financial arm, after it has consolidated its Institutional financial business into FCA regulated TradeTech Alpha Limited after two acquisitions. In its latest financial report, the company has mentioned that its Institutional financial business is not scaling higher and is facing declining revenue trend. The appointment of Joe Rundle looks likely that he will be charged with enhancing the retail trading capabilities of the firm.
In recent times, the company is going through a lot of changes. Earlier in the month, it was reported that its founder Teddy Sagi is no longer the largest shareholder in the company, in place US investment management giant T. Rowe Price Group Inc (NASDAQ: TROW) owns 10.2 percent in Playtech.