Global Brokerage’s Board of Directors Continues to Contract

Eric LeGoff and James Brown will be leaving the group's board of directors.

Global Brokerage Inc (NASDAQ:GLBR), the new name for the public company that accommodates FXCM’s assets outside of the US, has undergone a change to its board of directors, following its annual meeting of shareholders.

According to a regulatory filing, Eric LeGoff, an external director with the group, has opted not to stand for reelection to the board of Global Brokerage. He currently serves as the CEO of Evermore Funds Trust as well as the COO of Evermore Global Advisors.

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The announced departure of Mr. LeGoff represents the latest moves to a winnowed board for Global Brokerage, having already seen William Ahdout and Drew Niv resigning from their respective positions on the board last month. By extension, James Brown has also decided not to remain with the board, choosing not to stand for reelection – he will remain with the group until the company’s next annual meeting.

Earlier this week, Global Brokerage Global Brokerage reported its financial results for the fourth quarter of 2016. The firm’s bottom line during the period increased when compared to the previous year, as a result of higher volatility in the aftermath of the election in November.

The company also reported that for Q4 2016 ending on December 31st, trading revenues from continuing operations amounted to $79.5 million – the figure was materially higher than the $65.4 million reported in Q4 2015.

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