Concurrent with other large forex companies recruiting new blood at the top over recent months, GAIN Capital have followed suit and appointed Joseph Wald as Executive Vice President, Head of Institutional. GTX, GAIN Capital’s institutional business, will come under the leadership of Mr Wald, whereby he will report to CEO Glenn Stevens and perform his role from GTX’s New York City offices.
The last six months have entailed many senior level restructures within large companies, including OANDA’s reshuffles as reported by Forex Magnates, first appointing K Duker as CEO to supersede Michael Stumm in May 2012, then bringing on board Asia Pacific-based Jesper Bruun Olsen as Managing Director of Northeast Asia and Head of OANDA Japan as well as Stacy Grant-Thompson as CMO of OANDA International in Canada earlier this month.
With regard to Mr Wald’s appointment, Glenn Stevens, GAIN Capital’s CEO explained: “Joseph Wald is a talented visionary with the proven ability to grow trading volumes and build innovative product and service offerings for leading institutional platforms.”
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“Institutional trading is an important part of our growth strategy and having Joe lead this part of the business will help us build on the success we’ve had to date, and achieve our goal of becoming a market leading ECN in the FX space.”
Prior to his appointment at GTX, Mr Wald held senior positions at other large companies in the industry. Most recently, he was head of Knight Capital Group’s institutional electronic trade execution business. Before joining Knight, he was co-founder and CEO of EdgeTrade, a pioneering firm that served as an agency brokerage and developer of algorithmic trading and direct marketing access software for equity markets. EdgeTrade was acquired by Knight Capital Group in 2008. Mr Wald was educated at Brooklyn College, from where he graduated with a Batchelor of Science degree in Business Management and Finance.
“Performance and innovation are crucial to the institutional FX space, given the significant number of competing venues and platforms,” said Joseph Wald. “I’m looking forward to leveraging almost 20 years of experience in the equity world to bring a new level of innovation to the institutional FX space and help differentiate GTX from the competition.”