Only days after the company's celebrated Forex analysts Kathy Lien and Boris Schlossberg announced their intentions to leave the brokerage, comes the announcement that GFT's executive vice president and chief operating officer Muhammad Rasoul has left his 16 year post to join GAIN Capital, the parent company mega broker Forex.com.
Mr. Rasoul's new title is Executive Vice President – Chief Product Officer, which is a newly created position. In this capacity, Mr. Rasoul has been tasked with developing and executing GAIN Capital's product strategy and managing the company's product lines for both retail and institutional traders. In addition to having vast experience cultivated by managing the global operations of GFT Forex, Mr. Rasoul also holds Series 7 and Series 3 licenses and is a certified leveraged Forex representative by the Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA).
GAIN Capital is celebrating another victory this week, after becoming the newest brokerage to get accepted as a member to Canada's IIROC (Investment Industry Regulatory Organization of Canada), which will allow the brokerage to serve Canadian traders. Still, despite these triumphs, GAIN Capital also announced this week that it saw lower net revenues and EBITDA in Q1 2012 as compared to 2012. Based on his high esteem in the industry and years of experience, Mr. Rasoul's appointment, combined with the brokerage's continued expansion should help the company's overall reports improve in the coming quarter. Now, if only the political economy would stabilize the markets"¦