Appoints Joe Rundle as it's New CEO - The Industry Spread

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher. Appoints Joe Rundle as it’s New CEO

March 26, 2018
Joe Rundle, CEO
Joe Rundle, CEO

The CySEC licensed, Online Retail Fx Brokerage has appointed Joe Rundle as its new CEO. Joe Rundle is an experienced industry veteran and is joining 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 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 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. 

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