OANDA’s K Duker KO’d as New President and Chief Executive Officer Gets Crowned-in
Monday,02/12/2013|17:59GMTby
Adil Siddiqui
In a week of turmoil at the top, OANDA appoints a new president and CEO. The Canadian based broker has had a flurry of changes at the top, in the latest episode former Citibank executive Ed Eger joins the firm.
OANDA, a leading international currency broker has reported that it has appointed a new 'chief'. The notification comes only eighteen months after the recent CEO, K Duker, took over from one of the firm's co-founders, Michael Stumm. Banking and Payments veteran Ed Eger joins OANDA.
In a year which saw several high-end brokerage firms call it a day with a range of acquisitions, OANDA’s new appointment shows the firm's commitment to weathering the storm. Mr. Eger joins the firm from PayPal where he served as Senior Vice President and General Manager for the Americas. Prior to that, he was the CEO of Citibank’s credit card business.
Krishna “Kittu” Kolluri, Chairman of the Board, commented in a statement to the press: “It is a testimony to OANDA that we are now able to attract the calibre of talent that Ed brings. OANDA is on the cusp of becoming a major global brand and with an IPO on the horizon, Ed is the right person to take this business forward. His role is to bring our customers the best service and tools in the world and develop our organization to be able to cater to a rapidly growing, international audience. OANDA has a phenomenal history of successful and visionary innovation and this history will be crucial to our future. K Duker has played a vital interim role in implementing a core foundation for growth and I am delighted he will continue to be part of this firm.”
Michael Stumm, OANDA Founder and Board Member, spoke about the new appointment in a media briefing: “Ed’s arrival means OANDA customers will continue to experience all the things they have traditionally loved about OANDA – efficient trading, superb pricing and excellent customer service – while bringing new innovative products and services to OANDA’s expanding customer base.”
OANDA is known for hiring key members of its team outside the immediate FX sector, in 2011 it launched its European arm with the appointment of Anthony Broadbent, a former senior manager at Alliance Bernstein and Capital One. Mr. Eger’s experience in PayPal and Citibank is more geared to payment solutions as opposed to FX derivatives.
K Duker, interim CEO and OANDA executive committee member, said, “This is a wonderful coup for OANDA. Ed has a world-class reputation for leadership and growing his people. He deeply understands the new paradigm where disruptive technology converges with finance. He has rare and proven experience in driving customer-focused technology in developed and emerging markets around the world and has my total support.”
Last week the firm announced the departure of its CFO and CMO, Tim Smart, who had served as Chief Financial Officer (CFO), and Stacey Grant-Thompsom who held the role of Chief Marketing Officer (CMO)
In addition to hiring at the top, the firm has expanded its board. OANDA has appointed Fassbind, Independent Non-Executive Director at HSBC, Mich Mathews, former CMO and SVP of Microsoft Corp, and Kuno Kennel, Chairman of the Board at Schwyzer Kantonalbank. OANDA has also added Vatsa Narasimha as Chief Strategy Officer, and Graeme Whittington as Chief Technology Officer. K Duker, interim CEO, will remain with the firm and on the executive committee.
OANDA, a leading international currency broker has reported that it has appointed a new 'chief'. The notification comes only eighteen months after the recent CEO, K Duker, took over from one of the firm's co-founders, Michael Stumm. Banking and Payments veteran Ed Eger joins OANDA.
In a year which saw several high-end brokerage firms call it a day with a range of acquisitions, OANDA’s new appointment shows the firm's commitment to weathering the storm. Mr. Eger joins the firm from PayPal where he served as Senior Vice President and General Manager for the Americas. Prior to that, he was the CEO of Citibank’s credit card business.
Krishna “Kittu” Kolluri, Chairman of the Board, commented in a statement to the press: “It is a testimony to OANDA that we are now able to attract the calibre of talent that Ed brings. OANDA is on the cusp of becoming a major global brand and with an IPO on the horizon, Ed is the right person to take this business forward. His role is to bring our customers the best service and tools in the world and develop our organization to be able to cater to a rapidly growing, international audience. OANDA has a phenomenal history of successful and visionary innovation and this history will be crucial to our future. K Duker has played a vital interim role in implementing a core foundation for growth and I am delighted he will continue to be part of this firm.”
Michael Stumm, OANDA Founder and Board Member, spoke about the new appointment in a media briefing: “Ed’s arrival means OANDA customers will continue to experience all the things they have traditionally loved about OANDA – efficient trading, superb pricing and excellent customer service – while bringing new innovative products and services to OANDA’s expanding customer base.”
OANDA is known for hiring key members of its team outside the immediate FX sector, in 2011 it launched its European arm with the appointment of Anthony Broadbent, a former senior manager at Alliance Bernstein and Capital One. Mr. Eger’s experience in PayPal and Citibank is more geared to payment solutions as opposed to FX derivatives.
K Duker, interim CEO and OANDA executive committee member, said, “This is a wonderful coup for OANDA. Ed has a world-class reputation for leadership and growing his people. He deeply understands the new paradigm where disruptive technology converges with finance. He has rare and proven experience in driving customer-focused technology in developed and emerging markets around the world and has my total support.”
Last week the firm announced the departure of its CFO and CMO, Tim Smart, who had served as Chief Financial Officer (CFO), and Stacey Grant-Thompsom who held the role of Chief Marketing Officer (CMO)
In addition to hiring at the top, the firm has expanded its board. OANDA has appointed Fassbind, Independent Non-Executive Director at HSBC, Mich Mathews, former CMO and SVP of Microsoft Corp, and Kuno Kennel, Chairman of the Board at Schwyzer Kantonalbank. OANDA has also added Vatsa Narasimha as Chief Strategy Officer, and Graeme Whittington as Chief Technology Officer. K Duker, interim CEO, will remain with the firm and on the executive committee.
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👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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