David Sakhai has co-founded a new firm called Syndicate Profile and taken on the position of Chief Relations Officer.
Syndicate Profile is an online real estate investment marketplace based in New York. It matches investors with sponsors who are seeking equity partners for commercial grade real estate investment properties.
The firm was also founded by Allen Shayanfekr, Radni Davoodi and Raymond Y. Davoodi, the same team that was behind Sharestates, a real estate debt origination company that has originated over $900 million in loans.
Before joining Syndicate Profile, Sakhai co-founded foreign exchange brokerage FXCM in 1999 and served as its COO. FXCM was founded in New York and expanded to London in 2003. At one point it was the largest foreign exchange broker in the US with an estimated market share of 34 percent.
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Sakhai managed the compliance and operations departments across a dozen international FXCM offices, and played an integral role in developing its trading platform and back office. He was also in charge of building its global team, which worked with nearly 200,000 retail and institutional clients in over 180 countries.
FXCM began trading on the NYSE in December 2010, becoming the first foreign exchange broker in the US to go public. The initial public offering price was $14.00 per share.
In February 2017 the company conceded to leaving the US market when it was accused of alleged false and misleading solicitations to its customers between 2009 and 2014.
Prior to working at FXCM, Sakhai was Property Manager and Controller at SFC Inc. & Sak Bros Realty, and he co-founded a business called CaterBid which matched catering services with the appropriate events.