GAIN Former Chief Mark Galant Resigns From Board, Will Serve as Advisor Until 2015
GAIN capital, a leading financial services firm has announced that one of its long term serving members, Mark Galant has
Listed FX and CFD broker, GAIN Capital (GAIN), has reported that one of its members of the board of directors has resigned from the firm.
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Mark Galant, a former CEO and one of the founding members of GAIN,submitted his resignation on the 12th of December, consequently the firm made a public announcement on the 18th of December, according to an official company statement.
The details filed with the regulatory authorities show Mr. Galant had left on reasonable terms, and his decision to resign from the board is not due to a disagreement with the company on any matter relating to the company’s operations, policies or practises.
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Mr. Galant will serve as an advisor till January 2015.
GAIN was not available for comment, its share price was trading 0.79% in the red at US close.
Mr. Galant a former banker formed GAIN in 1999, during the firm’s peak growth years during 2001 and 2006 Mr. Galant served as CEO.
Mr. Galant stepped down from his position in 2007 and was replaced by Glenn Stevens, the current CEO.
GAIN is not alone in changes at the C-level, earlier this year OANDA and Alpari UK made strategic changes at the top.
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Not surprising, as the founder who handed off the company to lesser talents to run it should come as no surprise. He is now tethered to FXCM which has greater opportunity. I am curious what the consulting relationship is., and if there are any conflicts w/ his Faros/FXCM connection. I would imagine there is no love lost b/w stevens and galant. As one of the largest shareholders in Gain at the time of the IPO I am certain GS dropping the price from ~14 to 9 on the eve of the IPO was not well received.
Not surprising, as the founder who handed off the company to lesser talents to run it should come as no surprise. He is now tethered to FXCM which has greater opportunity. I am curious what the consulting relationship is., and if there are any conflicts w/ his Faros/FXCM connection. I would imagine there is no love lost b/w stevens and galant. As one of the largest shareholders in Gain at the time of the IPO I am certain GS dropping the price from ~14 to 9 on the eve of the IPO was not well received.