FXCM announced earlier this week that it will be changing its company name to Global Brokerage, Inc. and that its stock trading ticker will be changed to GLBR as of market opening on February 27, 2017.
The company also announced that its Director and Chairman of the company’s Board of Directors, Drew Niv, has resigned, and that he will be replaced immediately with Brian Reyhani as Chairman of the company’s Board of Directors. Mr. Niv will also relinquish his post as the company’s CEO, to be replaced by interim CEO Brendan Callan, who has been the CEO and President of European Operations subsidiary since 2010.
Jimmy Hallac, a Managing Director of Leucadia, the company that bailed out FXCM following the Swiss National Bank crisis in 2015, has been appointed as Chairman of the FXCM Group, after William Adhout resigned this week as Director of the Board.
Despite the changes in the company’s executive structure, FXCM (or Global Brokerage, Inc.) remains committed to putting its customers first and is expected to remain a leading global Forex brokerage. Commenting on the appointments, Leucadia’s CEO Rich Handler and President Brian Friedman commented: “We are very excited to have Brendan and Jimmy in their new roles. We believe that, under their leadership, FXCM Group will be able to continue to enhance and grow its global platform and customer offering. Brendan and Jimmy share our deep commitment to always putting clients first, maintaining and building a culture of transparency, communication and support among employees, and responding to the needs and goals of all relevant constituencies, including FXCM’s customers, employees, regulators, business partners and equity owners.”