The outgoing CEO joined GMG as it initiated a restructuring process that included raising nearly £250,000 ($311,000).
FCA-regulated brokerage firm Global Markets Group (GMG) continues to undergo major changes to its senior leadership, this time parting ways with its CEO Alex Iakobachvili, Finance Magnates has learned.
The departure of Iakobachvili, who also served as Managing Director with the London-based broker, comes barely 14 months after his installment in the position back in August 2018. Lakobachvili, who has worked in a variety of prime brokerage sales roles since 1978, also served on the firm’s management board, based out of London.
The outgoing CEO joined Global Markets Group as the company has initiated a restructuring and reorganization process. This included raising nearly £250,000 ($311,000) in new capital during his one-year tenure. However, the company’s financial performance failed to impress in 2019 as the revenues rose slightly from £202,000 to £212,000, while the operational losses more than doubled, from £190,000 to £432,000.
Prior to joining GMG, Iakobachvili was the former VP of sales at B2B brokerage group Global Market Index Limited (GMI) where he also stayed for nearly five months. Despite having very similar names, and both regulated in the UK, GMG and GMI are not interconnected brands and work under different owners.
Founded in 2015, GMG Group is controlled by Chinese entrepreneur Shi Lu via Citypark Investments Limited.
More about Iakobachvili’s background
Before GMI, Iakobachvili was Vice President of CFH Clearing Limited, where he worked for almost eight years. Between March 2010 and December 2012, he worked at Squared Financial Services Ltd, based in Dublin.
Iakobachvili also worked in institutional Forex sales at London Capital Group for just under a year. He held senior positions at Thomson Reuters, where he was Director of Bank Sales, and at IDEAglobal, where he was Senior Account Manager. Back in 1995, he was also Director of Targetpoint Limited for two years.
Iakobachvili attended City, University of London between 1994 and 1995 where he was studying under the Royal Society Kapitza Fellowship.
Mr. Iakobachvili took over last year from Nicholas Cooke, whose career in finance spans more than 11 years, originally joined GMG back in 2015. Before that, he worked for six years at FXCM, where he oversaw the company’s retail and institutional sales in Australia.
FCA-regulated brokerage firm Global Markets Group (GMG) continues to undergo major changes to its senior leadership, this time parting ways with its CEO Alex Iakobachvili, Finance Magnates has learned.
The departure of Iakobachvili, who also served as Managing Director with the London-based broker, comes barely 14 months after his installment in the position back in August 2018. Lakobachvili, who has worked in a variety of prime brokerage sales roles since 1978, also served on the firm’s management board, based out of London.
The outgoing CEO joined Global Markets Group as the company has initiated a restructuring and reorganization process. This included raising nearly £250,000 ($311,000) in new capital during his one-year tenure. However, the company’s financial performance failed to impress in 2019 as the revenues rose slightly from £202,000 to £212,000, while the operational losses more than doubled, from £190,000 to £432,000.
Prior to joining GMG, Iakobachvili was the former VP of sales at B2B brokerage group Global Market Index Limited (GMI) where he also stayed for nearly five months. Despite having very similar names, and both regulated in the UK, GMG and GMI are not interconnected brands and work under different owners.
Founded in 2015, GMG Group is controlled by Chinese entrepreneur Shi Lu via Citypark Investments Limited.
More about Iakobachvili’s background
Before GMI, Iakobachvili was Vice President of CFH Clearing Limited, where he worked for almost eight years. Between March 2010 and December 2012, he worked at Squared Financial Services Ltd, based in Dublin.
Iakobachvili also worked in institutional Forex sales at London Capital Group for just under a year. He held senior positions at Thomson Reuters, where he was Director of Bank Sales, and at IDEAglobal, where he was Senior Account Manager. Back in 1995, he was also Director of Targetpoint Limited for two years.
Iakobachvili attended City, University of London between 1994 and 1995 where he was studying under the Royal Society Kapitza Fellowship.
Mr. Iakobachvili took over last year from Nicholas Cooke, whose career in finance spans more than 11 years, originally joined GMG back in 2015. Before that, he worked for six years at FXCM, where he oversaw the company’s retail and institutional sales in Australia.
MarketAxess, HSBC,Beeks Group: Executive Moves of the Week
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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