GAIN Capital Appoints John Rhoten as a Class II Director

Rhoten joined the company’s Board on the 7th of October 2019.

GAIN Capital Holdings, Inc. announced through a regulatory filing this week that it has made some changes to its senior leadership by appointing John Douglas Rhoten as a Class II Director. 

According to the document filed with the Securities and Exchange Commission (SEC) on Thursday, Rhoten was appointed to the new position on October 7.

London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now

He joins the company as part of INCAP Gaming’s voting right to add one director to GAIN, which was granted to the company as part of GAIN’s acquisition of City Index.

INCAP is an affiliate of IPGL. IPGL is the beneficial owner of 953,031 shares of the Company’s common stock, and its affiliate, Fox & Trot Ltd. (FT), is the beneficial owner of 4,629,950 shares of GAIN Capital’s common stock.

Suggested articles

Swissquote Joins oneZero EcoSystem to Bolster Liquidity OfferingGo to article >>

According to the regulatory filing, FT also holds substantially all of GAIN’s Convertible Senior Notes due 2020, of which $60 million in principal amount were issued in connection with GAIN’s acquisition of City Index.

Samantha Roady leaves GAIN Capital

The appointment of Rhoten follows on from Samantha Roady stepping down from her position as the President of the online broker’s retail business unit. As Finance Magnates reported in August, she stepped down at the end of September.

Regulatory filings state that Roady left the company to “pursue other interests outside the leveraged trading industry.” Before her departure, Roady had spent the majority of her career with the online trading provider – more than two decades to be precise.

It was also revealed that GAIN Capital’s Chief Executive Officer (CEO) Glen Stevens would be assuming Roady’s role once she left the company. It is unclear as to whether Stevens will hold that position for the long run or if the New York-based broker will be looking for an external executive to replace Roady.

Got a news tip? Let Us Know