According to GMI UK’s latest filing with UK companies house, Mr. John Dean Taylor has resigned from his post as Chief Operating Officer of the firm as of last Friday. He has been serving as COO for the brokerage since January 2018 and contributed a great deal toward increasing the company’s revenue during his tenure as COO in the company. The brokerage house saw its revenues steadily increase over the last couple of years and during Taylor’s tenure as COO, the revenue reached 1.4 million British Pound at the end of last year. While most of the companies in the FX industry are currently in consolidative phase, GMI UK has managed to stand out having seen a stable increase in revenue since the last quarter of 2017.
Prior to his tenure as COO in GMI UK, John worked in Exness UK as its Chief Financial officer and was known for playing a major role in the establishment of the FCA regulated subsidiaries at Exness helping with the launch of their operation in the UK before he resigned. Prior to Exness, John served as acting COO, Head of operations & Middle Office EMEA at Deutsche Bank. GMI started their brokerage services in 2009 with a heavy focus on the Asian Pacific Market and by 2010 became one of the early pioneers who introduced ECN and STP technologies in the Asian Pacific Region. GMI group began its forex brokerage operations in the UK during 2015 post receiving FCA approval to serve in capacity as STP-ECN’s only broker. When commenting on John’s resignation, Ashraf Ebid, CEO of GMI UK stated: “We really appreciated John Taylor’s dedicated service and we wish him best of luck with his new career endeavours”.
Ashraf Ebid also stated that John will continue to help GMI group as a consultant in their special projects and that he remains a close friend when speaking to news website Finance Magnates. As per comments from Ashraf Ebid, it looks like John is interested in pursuing his future career outside of FX and finance sector. According to a statement filed with UK companies house towards the end last month with full account details till 31st December 2019, the company aims at increasing their capital base yet again and will continue to hire strong and well-renowned sales staff. The statement also said that the company expects revenue drive from 4 core areas namely –
- Market leading liquidity for institutional clients.
- Increased Focus on Professional Traders, given their position & strength to serve professional traders with pricing and execution not usually found among retail brokers.
- Continue their work with partnered sister company Finstek, utilising its market-leading bridge and aggregator which facilitates GMI to compete on price, execution speed and quality of service.
- Increase geographical reach.
Please feel free to let us know what you think in the comments below.