OANDA hires John Farda to lead growth agenda in United States and Canada
The broker has recently appointed Philip Holemans as Chief Financial Officer, bringing 20 years of experience to the job.
OANDA has appointed John Farda as Managing Director of North America, based in New York. He will be responsible for the firm’s growth agenda in the US and Canada.
Specialized in online multi-asset trading services and currency data and analytics, OANDA hired Mr. Farda for his wealth of experience driving transformation and growth in the financial markets.
He joins OANDA from Fidelity Investments, where he held several positions, most recently acting as Head of Product for the SimpliFid Digital Solutions division. His career also includes roles at the CME Group and E*TRADE.
David Hodge, Chief Revenue Officer with OANDA, commented: “We’re delighted to welcome John to the OANDA team. His extensive experience in the electronic trading sector will enable the firm to further transform our operation in North America, driving company growth and strengthening our reputation in the region.”
John Farda, Managing Director of North America, said: “Backed by our institutional-grade multi-asset platform and legacy of technological innovation, I’m confident we will continue to build the business in North America, introducing OANDA’s world-class brand to new audiences throughout the region in the coming years.”
The broker has recently appointed Philip Holemans as Chief Financial Officer, bringing 20 years of experience to the job.
Mr. Holemans was CFO at GE Capital in the Benelux, Germany, and Czechia offices. His most recent role was with WiZink, which is an Iberian digital bank, where he was the CFO as well.
In April, OANDA appointed Marcin Niewiadomski as the Head of Europe following its March acquisition of TMS Brokers in Poland, where he was Chief Executive Officer.
The TMS acquisition is OANDA’s second investment in Poland over the last year, after having established a shared services center in Kraków in early 2020. The center currently employs almost 100 people. The deal is part of OANDA’s growth plan and only the first in a number of strategic acquisitions the multi-asset broker is looking to complete to strengthen its reputation in the retail sector.
The US operation has recently experienced some issues with the National Futures Association (NFA) relating to a number of compliance failures.
The financial watchdog fined OANDA $200,000 for failing to submit accurate daily forex reports to the NFA, and other compliance rules regarding security systems, handling of customer complaints, and appropriate supervision. All allegations which the broker neither admits nor denies.
According to the regulator, ever since OANDA was acquired in 2018 by a subsidiary of private equity firm CVC Capital Partners, the broker increased the number and degree of deficiencies occurring at the firm.
