Kevin Ashby Resigns as CEO of London Capital Group
- With Charles-Henri Sabet arriving as Executive Chairman at London Capital Group last week, the broker has announced that CEO Kevin Ashby is resigning his post to concentrate on other interests.
Kevin Ashby, CEO of LCG
Perhaps not so surprising, Kevin Ashby has resigned from his position of CEO at London Capital Group (LCG) which he has held since July 2013. The resignation occurs as Charles-Henri Sabet was appointed Executive Chairman of the broker last week. The Chairman's appointment finalized financing of Sabet-led GLIO Holdings of £17.5M into LCG, which was approved by shareholders in August.
In leaving LCG, Ashby continues a revolving door of leaders at LCG, with his one year plus tenure lasting longer than his predecessor Mark Slade who had held the CEO position for only six months. Upon announcing Ashby’s resignation in their formal regulatory statement, LCG connected the news to Sabet and his group of investors' arrival. As a result, LCG commented, “Kevin Ashby therefore has decided that it is an appropriate time to resign and concentrate on his other business interests."
With Ashby’s exit, Sabet takes over a firm in the midst of handling a dwindling customer base and falling revenues due to a combination of white label partners leaving, overall industry-wide institutional FX margin compression, and 25=year lows in FX Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term. Among its division, possibly the most promising one is LCG’s Prime of Prime offering, from which the broker may be able to benefit as larger primary banks have been contracting their prime brokerage services to smaller sized firms.
Separately, the Wall Street Journal reported that LCG has hired Rohan Ramchandani as its Chief Adviser for Spot FX and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term. The hiring is notable as Ramchandani was fired from his previous position at Citigroup for his connection to the ongoing investigation of global regulators of FX price manipulation.
On the news, shares of London Capital Group (LCG.L) are up 1.7% to a current 29.75p.
Kevin Ashby, CEO of LCG
Perhaps not so surprising, Kevin Ashby has resigned from his position of CEO at London Capital Group (LCG) which he has held since July 2013. The resignation occurs as Charles-Henri Sabet was appointed Executive Chairman of the broker last week. The Chairman's appointment finalized financing of Sabet-led GLIO Holdings of £17.5M into LCG, which was approved by shareholders in August.
In leaving LCG, Ashby continues a revolving door of leaders at LCG, with his one year plus tenure lasting longer than his predecessor Mark Slade who had held the CEO position for only six months. Upon announcing Ashby’s resignation in their formal regulatory statement, LCG connected the news to Sabet and his group of investors' arrival. As a result, LCG commented, “Kevin Ashby therefore has decided that it is an appropriate time to resign and concentrate on his other business interests."
With Ashby’s exit, Sabet takes over a firm in the midst of handling a dwindling customer base and falling revenues due to a combination of white label partners leaving, overall industry-wide institutional FX margin compression, and 25=year lows in FX Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term. Among its division, possibly the most promising one is LCG’s Prime of Prime offering, from which the broker may be able to benefit as larger primary banks have been contracting their prime brokerage services to smaller sized firms.
Separately, the Wall Street Journal reported that LCG has hired Rohan Ramchandani as its Chief Adviser for Spot FX and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term. The hiring is notable as Ramchandani was fired from his previous position at Citigroup for his connection to the ongoing investigation of global regulators of FX price manipulation.
On the news, shares of London Capital Group (LCG.L) are up 1.7% to a current 29.75p.