OANDA has appointed industry veteran Tim Howkins as Chairman to its Board of Directors. The appointment follows the successful completion of CVC Capital Partners’ acquisition of OANDA, which was completed on 15 October 2018.
Tim Howkins is likely to add a wealth of industry-specific expertise to OANDA’s advisory team, having worked with entrepreneurial high-growth businesses for close to 35 years.
Best known for his 16-year career with IG Group, Tim Howkins initially joined the firm as CFO before assuming the role of CEO, which he played for nine years. There, he steered the business through an unprecedented period of global transformation, driving significant growth in shareholder value and quadrupling earnings per share.
Tim Howkins, Chairman of the Board of Directors at OANDA, commented:
“I am delighted to be joining OANDA at such an exciting time in the company’s 22-year history. Throughout my career in the FX and CFD industry, I have long admired OANDA as one of the most ethical firms in the industry, with a proven track record in treating clients fairly and placing their interests first. I am excited at the prospect of helping OANDA grow to be one of the largest global firms in the sector.”
Vatsa Narasimha, Chief Executive Officer of OANDA, added:
“We are extremely pleased to welcome Tim to the OANDA Board. A seasoned professional, his in-depth knowledge and unparalleled expertise in the market will be a tremendous asset to the firm as we look for new growth opportunities in the future.”
CVC Capital Partners, a leading private equity and investment advisory firm founded in 1981, completed the acquisition of OANDA on 15 October 2018. CVC Capital Partners (“CVC”) founded in 1981, CVC today has a network of 23 offices and approximately 450 employees throughout Asia, Europe and the U.S. In total, CVC currently manages circa $70 billion of assets.
OANDA was the first company to share exchange rate data free of charge on the Internet, launching an FX trading platform that helped pioneer the development of web-based currency trading five years later. In April, the broker appointed a new Chief Technology Officer, Warren Faleiro. The company’s operation in Europe reported increased profitability for the year ending December 31st, 2017.