Invast Financial Services has shaken up its executive management personnel, with the group’s Chief Commercial Officer and longtime industry veteran, Gavin White, stepping into the role of Chief Executive Officer (CEO) with immediate effect, Finance Magnates has learned.
Mr. White will assume the mantle of responsibility from Brendan Gunn, who has been Invast’s acting CEO since early 2013. However, Mr. Gunn has resigned from the broker, paving the way for the ascension of Mr. White, who will now help steer the company moving forward.
Mr. White joined Invast Securities back in 2012 and has since served as its Chief Commercial Officer. He has garnered extensive experience across the foreign exchange (FX) industry, with a plethora of senior level roles at leading companies dating all the way back to 1987.
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Prior to working at Invast Financial Services, Mr. White worked at such venues as Cantor Fitzgerald, MF Global, City Index, Vulpine Capital Management, ABN AMRO Bank N.V., Barclays Capital, Bankers Trust Australia, Citi and Westpac.
According to Mr. White in an exclusive statement to Finance Magnates on the succession, “Brendan has decided to resign from Invast to pursue other opportunities. Brendan has been a great leader since the launch of Invast in Australia and has really set the firm up well for future growth. We are now very focused on providing bespoke solutions for Institutional and Premium FX clients and developing our unique DMA CFD and Thematic Portfolio offerings. Retail FX is a less important part of our business.”
Just last week, Invast Securities reported its October 2015 monthly financial metrics, which were underpinned by a retreating performance across its revenues. This included a figure of $2.31 million (¥283 million), relative to $2.70 million (¥331 million) in September 2015.