Finance Magnates has learned that GAIN Capital’s (NYSE:GCAP) Executive Vice President and Chief Product Officer Muhammad Rasoul is parting ways with the US broker.
Mr. Rasoul has been an instrumental force at GAIN Capital for the past three years, having joined the broker in May 2012. Over the course of his tenure he has helped promote and strengthen GAIN’s influence across its global business lines.
Under his reign, GAIN Capital has made a number of splashes in the foreign exchange (FX) industry, including its landmark acquisition of FX, CFD and UK spread betting firm, City Index Limited, for $118 million, with a net purchase price of $82 million, including $36 million in cash.
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Mr. Rasoul has been a mainstay in the FX industry for nearly two decades. Prior to joining GAIN Capital he served as the Chief Operating Officer and Executive Vice President of GFT Markets for sixteen years, dating back to 1996.
It is presently unknown where Mr. Rasoul’s next move is following his resignation. Finance Magnates reached out to GAIN Capital which confirmed the resignation and departure.
GAIN Capital (NYSE:GCAP) share prices have been performing well as of late, recently touching a 52-week high of $10.34 last month. At the time of writing, the company is trading at $9.62 during US Thursday trading.