One of the newest entrants into the foreign exchange prime broking space, Forex Development Corporation (FDC) has on-boarded Peg Reed as Chief Operating Officer. The newest hire of the company led by Mitch Eaglstein has been in the industry for over 20 years, working for companies such as Hotspot, Citi, IBFX, GFT and ayondo.
In her new role, Peg Reed is going to take operational charge of Forex Development Corporation and will be looking to scale the firm’s solution towards a global client base. According to a company statement: “Reed will oversee sales, marketing, business development and implement Company’s aggressive institutional FX B2B strategy.”
The new Chief Operation Officer of FDC commented to Finance Magnates: “I was looking for a start-up firm that had not only the vision but also in-house software development capabilities to reshape the retail FX competitive landscape, and introduce innovative FX products and services. I firmly believe that FDC’s market positioning is a perfect fit for my experience of taking start-up companies to the next level and helping FX firms develop and grow their B2B businesses.”
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Focus on European and Asian Expansion
Indeed, Peg Reed has already been instrumental in the success of a couple of companies in the industry like IBFX & GFT. She has been working in sales and marketing strategy for a large number of foreign exchange related companies and products which include Citi’s Lava ECN product.
For its part, FDC is aiming to deploy its Start Your Own Prime Brokerage (SYOPB) solutions. Commenting on her new role to Finance Magnates, Reed elaborated that while she will be based in New York, she will also be frequently traveling to Europe and Asia.
Elaborating on the methods which FDC intends to use to achieve its goals, Mrs Reed said: “The next phase of the company will be increasing customer acquisition, building global support teams and implementing operational excellence which will help us scale the business and serve our customers better in various geographic locations.”
Mrs Reed will be leading these initiatives by managing the company’s operational and marketing strategy with the primary focus on improving overall customer experience.