Forex Magnates has confirmed that Li Rao, Easy Forex Chief Sales Officer since April, has resigned as a result of continued restructuring at the Cyprus- based broker. Her position has been scrapped and thus she was forced to leave.
According to sources from within the firm, Li Rao was the second highest paid employee in Easy Forex, only following Michael Konnaris, earning a 5 figure monthly salary.
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Li Rao started with Easy forex as a Chinese account service manager in 2005 and kept advancing until being promoted to her last position from Senior VP of Global Sales nine months ago. It seems that Easy Forex’s refocusing on China did not go as well as planned, and she was the latest to pay the price.
Easy Forex provided this statement: “Due to changes in our organizational structure Li’s position of Business Unit Manager has been made redundant and we have parted ways. Li has been a loyal and integral member of easy-forex for over 10 years. We are grateful for her contribution in running the global sales team. We wish her the best of success in her future endeavors.”
Asked if Li Rao’s departure is a sign the broker is leaving the Chinese market, Easy Forex answered: “We can confirm that we have no intentions of leaving China, on the contrary, we are looking to increase our Chinese business in 2015. We only effect changes on how we conduct business throughout easy-forex in order to allow us to grow.”