UK-based FCA-regulated broker GKFX Financial Services, known as GKFX, has parted ways with its Non-executive Chairman Nick Beecroft, less than one year after he took over the brokerage’s leadership, a filing with the UK Companies House shows.
Beecroft confirmed his departure to Finance Magnates without providing more details. “I resigned on 7th June, entirely of my own volition, to pursue my other private and business interests. I remained on completely amicable terms with GKFX, and was thus happy to work my notice period, which expired yesterday,” he said.
Beecroft has been deeply involved in the foreign exchange industry since 1981 when he started his career at Citi. His 37 years in the industry include senior positions at Deutsche Bank, Standard Chartered, and non-executive roles with London FX brokers.
In 2015, Beecroft founded his own consultancy firm HP Economics.
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At present, he also holds two other directorship positions – he’s a non-executive director at Crown Agents Bank and the National Bank of Egypt.
A long history for an industry veteran
Prior to joining GKFX in November 2017, Beecroft worked as Non-Executive Director with UK brokerage FxPro for just one year. This appointment followed his departure from Saxo Bank where he served between 2009 and 2015. While at Saxo, Beecroft held a variety of positions, over time developing into one of the most recognizable faces of the group. He frequently appeared in the media and has been a reliable figure in Bloomberg TV, CNBC, Reuters TV and BBC World, where he spoke on a number of macroeconomic issues.
Beecroft’s departure comes amidst a transition period at GXFX which saw a number of executive reshuffles in recent months.
GKFX has recently been in the spotlight as the company made a series of changes to its management structure, appointing and parting ways with several board members. Just last week, GKFX CEO Rod Martenstyn left the brokerage to launch his own consulting firm. Martenstyn originally joined the company in July 2017 and within ten months had gone from chief financial officer to compliance director to CEO. He took on this last role when the previous CEO, Brian Myers, resigned.