If any FXCM investors were worried that the group will be lost without the guiding hand of its founder Drew Niv, they just got a reason to relax. An amended annual report from Global Brokerage, Inc. (formerly FXCM, Inc.) reveals that Niv retains an active role at the company.
According to the report, Niv is now the company’s Interim Chief Executive Officer, with the interim period left undefined. This counters the previous impression that Leucadia National Corporation (NYSE: LUK) has completely pushed the former CEO out of all leading positions in the brokerage leaving him with only an advisory role.
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We recently saw that even FastMatch, Inc., an Electronic Communication Network (ECN) linked to FXCM, has replaced Niv with Leucadia executives on its board of directors.
As you may recall Niv was forced to withdraw from NFA membership, and is under a permanent ban, effective since February 21, 2017. As his company now no longer serves clients in the American market it seems that he can still legally function as interim CEO.