According to publicly available information on LinkedIn, Peg Reed has parted ways with ayondo after a tenure at the company lasting a little over a year. A company spokesperson explained to Finance Magnates that her role is being handled by the company’s current sales team and the executive team.
Peg Reed is an industry veteran who has spent many years in senior positions at Bank of America, Standard Chartered Bank, Barclays Bank, IBFX and Gain Capital. She is also known for being part of the team that launched Hotspot FX in 1999, a move that helped shape the modern foreign exchange trading market.
Mrs Reed was serving at ayondo as Senior Vice President of Business Development.
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The move happened in March, just before ayondo announced its intention to get listed in Singapore via a reverse takeover deal. The social trading provider and brokerage last month became the latest company from the industry to announce its intention to go public.
The prospective deal in which the company will execute a reverse takeover transaction puts a valuation on the company of about $155 million (SG$210 million).
The public information available on Mrs Reed’s profile does not disclose a new company where she might be continuing her career.