Mr Manning’s appointment is reported as FXCM Group reshuffles its management following the exit of the broker from the US retail Forex market.
Forex Capital Markets Limited, or FXCM UK, has just filed a report about the appointment of Edwin Philip Alfred Manning as Non-Executive Director. The appointment, which has also been reflected in the FCA register, is effective as of June 1, 2017.
Mr Manning has extensive experience in the financial services industry. In February 2012, he pioneered the opening of ADIB (UK) Ltd and was the CEO of the bank until April 2013. From May 2005 to December 2009, he worked at Citigroup International Corp, as Managing Director, Global Business Development, Global Cards, London. Prior to that, from 1993 to 2005, he held a number of director roles at MBNA.
Among his previous consultancy roles is that of Strategic Partnership Director at ActivTrades Plc.
The appointment of Mr Manning at FXCM UK is announced as the broker is reshuffling its management following settlements with US regulators in February this year and the exit from the US retail FX market. Drew Niv stepped down as Director of FXCM UK on February 9, 2017. He resigned as Interim CEO of Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, on May 15, 2017.
Brendan Callan, who was named Interim CEO of FXCM Group back in February this year, was promoted to CEO of FXCM Group on May 15, 2017. Mr Callan was previously the CEO and President of European Operations of FXCM Group since 2010.
In mid-May 2017, FXCM Group, in which Global Brokerage holds an indirect effective 37.3% ownership, announced the signing of new contracts with Eduard Yusupov and David Sakhai. Mr Yusupov will stay in his role as Group’s Global Head of Dealing. He will receive annual compensation of $600,000 for these services. FXCM Group’s current Chief Operating Officer David Sakhai will keep this full-time role until May 31, 2018. He will get annual compensation of $600,000 and a bonus of $1 million at the end of the period.