Christopher Peter Long has stepped down from his position of Director at prime of prime brokerage GCM Prime. The move comes a couple of months after he joined the board of another brokerage, EGR Broking.
Mr Long joined GCM Prime in October 2011 and spent just under six years there, effectively resigning on the 5th of June. He continues to be an active board member at several companies aside from EGR Broking, which is a London-based stockbroking firm.
Long is also a director at fintech company Interest Me P2P, FHWM, FW Holdings, LPL Finance Return Over Time, Titan Black Group, Too Long Investments and Wise Pension Group.
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Last year, GCM Prime was joined by Levy Bennaroch as Chief Operating Officer. He will be joining the company’s Board and succeeding Mr Long.
Throughout the year, the former directors of GCM, Salvatore Buccellato and Glenn Ward, left the company’s board in September and June respectively. The recent bankruptcy of Gallant Capital Markets prompted the company to clarify that it doesn’t share a similar management structure with the BVI-regulated broker, where Buccellato is a senior executive.
The London-based prime of prime brokerage recently reported its financial results for 2016. The company’s revenues amounted to £1.5 million between April and December last year. GCM Prime posted a gross profit of £171,514, with an operating loss of £227,174.
The firm raised additional capital last year, totaling over £4.2 million, with the total share capital of the company as of the end of last year amounting to £7.27 million. The figure is more than double the previous amount reported at the end of March 2016.