FNG Exclusive… FNG has learned that CFH Group founder Christian Frahm has resigned from the board of the company, as well as its FCA regulated subsidiary CFH Clearing.
In parallel, Mr. Frahm has stepped down as Chairman of the CFH Group companies, which he founded in 2008.
CFH Clearing provides FX liquidity and brokerage services to an exclusively B2B clientele. Its clients include Retail FX brokers, banks and fund managers, which use CFH to access liquidity through an extensive selection of Tier-1 banks, ECNs and non-bank liquidity pools.
The CFH Group companies are now part of online gaming and financial brokerage firm Playtech. Playtech acquired CFH for $120 million in 2016, later combining it with its Retail FX and CFD brokerage arm Markets.com and another acquired FX B2B company, Alpha Capital Markets, to form Playtech’s Financials division TradeTech.
Mr. Frahm had remained with CFH as CEO for about two years after the acquisition, leading the successful integration with Alpha and Markets.com. Last year he stepped down as CEO, handing the day-to-day reins over to longtime CFH executive Marc Levin. And now, following a three-year obligation he made to Playtech at the time of the acquisition, he is stepping off the board and is fully removed from CFH.
Mr. Frahm leaves CFH and its sister companies in a fairly good spot. As we reported last month, Playtech saw a fairly strong set of results in Q1-2020, driven mainly by the growth of TradeTech.
FNG spoke with Christian Frahm, who said that he’s working already on another interesting fintech related project, which should be ready to be unveiled later this year. Stay tuned for details to FNG…