UK-based GMG Group Appoints Alex Iakobachvili as its New MD & 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.

Global Markets Group Limited GMG

UK-based GMG Group Appoints Alex Iakobachvili as its New MD & CEO

August 27, 2018
Alex Iakobachvili, GMG Managing Director and Chief Executive Officer
Alex Iakobachvili, GMG Managing Director and Chief Executive Officer

The FCA regulated startup, Global Markets Group Limited (GMG) has announced the appointment of Alex Iakobachvili as its new Managing Director and Chief Executive Officer, according to his LinkedIn profile.

Prior to joining GMG, Alex Iakobachvili was at Global Market Index Limited (GMI), a B2B broker as Vice President of Sales for a very short duration of five months. Despite having very similar name, both the companies are not interconnected and works as a separate entity under different owners. 

Alex Iakobachvili has over 20 years of experience of the forex industry serving at various senior roles. Prior to joining GMI, he was Vice President at CFH Clearing Limited and had worked for almost eight years posted at their London office, leaving the company after Playtech acquired CHF Clearing.

Through out his professional career, he has worked at some of the top forex brokers and financial institutions including, Squared Financial Services Ltd in Dublin, London Capital Group. He has also held senior roles at Thomson Reuters where he was a Director of Bank Sales. He was at IDEAglobal as Senior Account Manager and Director at Targetpoint Limited in London for two years. Iakobachvili has attended London University between 1994 and 1995 and has achieved PhD degree.

Establised in 2015, GMG Group is controlled by  Chinese entrepreneur Shi Lu via Citypark Investments Limited. It offers direct market access to the forex and CFD markets but the company has been recording losses. In 2017, it had revenue of £202,000 in 2017 and a net loss of £94,000. It is understood that, GMG Group will undertake restructuring initiative under Iakobachvili’s leadership to turn the company’s operation profitable. The company is also planning to raise funds and is looking to expand its business operation in Asia and South America regions.

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