Retail Fx broker, FXCM Group has unveiled its new brand identity, as its logo finds mention of an added phrase “a Leucadia company”. The official website and all social media channels of the company have been updated with the new logo. This development comes to an end of months of speculation about the management control of the firm after FXCM decided to part business ties with Global Brokerage Inc (OTCMKTS: GLBR), a one-time controlling shareholder.
The new corporate identity was a result of an emergency loan arrangement of $300 million for two years from Leucadia National Corp (NYSE: LUK) following the Swiss Franc spike on January 15, 2015. The funds were utilized in covering the negative balances of clients in that shock event which affected most of the brokers. Leucadia holds an economic interest in FXCM and has been involved in all major decisions of the company ever since followed by appointment of Jimmy Hallac as Chairman of FXCM, previously with Leucadia.
With addition of Leucadia in the corporate logo of FXCM, it will help to boost its image mainly in the institutional sector where Leucadia has a significant presence. Leucadia is an investment holding company based in New-York has a market cap close to $9 billion. It has investment and holdings in wide varieties of the sector including real estate, food and mining. Its main asset is mid-market investment bank Jefferies LLC which also provides FXCM with prime brokerage services and liquidity in Fx trading.
With this rebranding exercise, FXCM is further looking to distance itself from Global Brokerage Inc. The company still technically holds 50 percent interest in FXCM but the given the future cash flow payouts to Leucadia, the actual economic interest in FXCM is very less so its influence.
FXCM Spokesperson released a statement on the matter:
“Beginning in January 2015, through a series of transactions, Leucadia has become the majority economic owner of FXCM. FXCM has benefited from the scale and breadth of the Leucadia family of companies since then and now Leucadia is present in the company’s brand identity. Firmly committed to FXCM’s success, our customers, employees and stakeholders benefit greatly from the Leucadia affiliation.”
“FXCM is committed to building a better and better brokerage for our traders, our goal is to provide them with the ultimate trading experience. We are constantly looking to deliver innovative technology solutions and enhanced execution that will help our traders navigate and trade the financial markets.”
“FXCM’s new brand identity will be rolled out globally in the coming weeks and can be seen on websites, social media accounts and other marketing material.”