OANDA has elevated its acting Chief Financial Officer (CFO) Vatsa Narasimha to the role of Chief Executive Officer, succeeding Ed Eger, who is slated to remain with the broker to help facilitate a transition, per an OANDA statement.
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The move represents a shakeup at the highest level at OANDA, after Mr. Narasimha’s work with helping steer the group’s trajectory to new sectors, with an emphasis on regional growth. Mr. Narasimha originally joined OANDA back in 2013. Since then he has worked closely with Mr. Eger, holding such roles as CFO, Executive Vice President, and Chief Strategy Officer.
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Changing of the Guard
With the transition, Mr. Eger will step down as CEO after three years in the role – he originally assumed the position in 2013. According to Kittu Kolluri, Chairman of OANDA, in a recent statement on the appointment: “I would first like to thank Ed for his tremendous leadership at OANDA. As CEO, Ed took a technology-driven approach to growing our services, increasing our market share, establishing record revenue and client growth, and taking customer and employee satisfaction to all-time highs.”
“Working closely with Ed over the last three years, Vatsa has been fundamental to OANDA’s growth. He brings strong financial management, sharp operational insights, and a global perspective. Under Vatsa we will carry on building scale and excellence. The Board is confident he will continue to deliver greater employee, customer and shareholder value,” he added.
“It’s been an honor to lead OANDA. We have accomplished a great many things around the globe, diversifying the business and firmly establishing OANDA as the technology platform of choice for organizations’ and consumers’ foreign exchange and trading needs. It’s been a pleasure working closely with Vatsa and the team to achieve the growth we have over the last three years. I look forward to watching him build on these successes,” reiterated Mr. Eger.