The CEO of GKFX, Brian Myers, has resigned from his position, the company confirmed to Finance Magnates on Tuesday. The company’s CFO Rod Martenstyn will assume the position of Chief Executive Officer pending regulatory approval from the FCA with immediate effect.
Commenting on the latest change at the firm, the Chairman of GKFX, Nick Beecroft, said: “we wish Brian well in his next role and thank him for his great work at GKFX FS.’’
Brian Myers added: “whilst I look forward to my next role immensely, I’d like to thank GKFX’s global workforce and wish them well for the future.’’
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An industry veteran
Brian Myers is a veteran of the trading industry. His career started at SVS Securities in 2006. In January 2009 he joined FXCM as Premium Clients Manager, a role that quickly resulted in a senior position at one of the biggest brokers in the UK at the time only a year and a half later. He joined Alpari UK in September 2010 as Global Head of Sales.
After leaving the London-based brokerage in June 2014, he joined OANDA Europe as a Commercial Director. Back in September 2016, Myers joined the Board of Directors of GKFX and became CEO after the resignation of Serkan Arli in December 2017.
Upcoming regulatory overhaul
The latest change at the helm of GKFX comes as the industry is preparing for a big regulatory overhaul. Starting from sometime later this year (probably June), foreign exchange and CFDs brokers will need to introduce material changes to their offerings as the new European regulatory framework takes hold.
Brokers will need to adhere to new capital requirements if they are operating via a matched principal license and upgrade to a 730,000 euro ($895,000) permit. In addition, operating leverage for retail clients has been reduced to multiple tiers starting from 30:1 for major forex pairs.