Walbrook Capital Markets, formerly FXCM Securities, reshuffles director ranks, changes offices

Maria Nikolova

New directors from ITI Capital Ltd, ex-URALSIB Securities Limited, join Walbrook Capital Markets, as Igor Vladimirovich Kim is no longer a person with significant control.

It has been a while since we’ve monitored the fortunes of FXCM Securities, one of the businesses that FXCM sold after the “Black Swan” events in order to get money to repay the loan extended to it by Leucadia National Corp. (NYSE:LUK).

The last several days saw a raft of announcements posted by Walbrook Capital Markets, formerly known as FXCM Securities, on the UK Companies House page.

The majority of the announcements concern changes to the Board of Directors of the company, which was sold by FXCM to AS Expobank in December 2015. Ilya Mitelman and Conor Simon Charles Ringland are no longer directors at Walbrook Capital Markets, effective August 10, 2017.

Another important announcement is also dated August 10, 2017. It states that Igor Vladimirovich Kim has ceased to be a person with significant control at the company.

Along with the departures, new appointments come. John Michael Lewin, and Oleg Zhelezko – both of ITI Capital Ltd (formerly URALSIB Securities Limited), join Walbrook Capital Markets as directors effective August 10, 2017. Another new name – Nikolai Dontsov, is also on the director list of Walbrook Capital Markets.

The address of ITI Capital is now the new address of Walbrook Capital Markets too: Level 33 Tower 42 25 Old Broad Street London EC2N 1HQ. Effective August 11, 2017, Walbrook Capital Markets abandoned its old address, the Northern and Shell Building Eight Floor 10 Lower Thames Street London Greater London EC3R 6AD, which belongs to FXCM UK.

FXCM continues to market a number of its non-core businesses for sale, as it is under pressure to raise money to repay the Leucadia loan. FXCM’s stake in FastMatch was sold to Euronext in May this year for an estimated sum of $55.6 million, whereas the broker continues to market V3 Markets and Lucid Markets for sale, although there is no information on a potential buyer at this point.

In its filing with the Securities and Exchange Commission (SEC) for the second quarter of 2017, Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, reiterates its concerns regarding its possible delisting from NASDAQ, which may result in a default.

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