FNG Exclusive… FNG has learned that John Reed has stepped down as Chairman of London based, FCA regulated Retail FX and CFDs broker ActivTrades. He has also resigned his position on the ActivTrades board of directors.

John Reed had served as Chairman of ActivTrades since 2016, taking over that role from controlling shareholder and CEO Alex Pusco. Mr. Reed is a career City banker, who now serves on a number of boards including EFG Private Bank Limited, the UK arm of EFG International, and Ford Credit Europe Bank plc. He was previously CEO of private banking firm Arbuthnot Latham, which followed more than a decade working at Hambros Bank (now SocGen unit Kleinwort Hambros) including roles as Group COO, group head of risk, and head of corporate banking.

FNG spoke with a representative of ActivTrades, who noted:

ActivTrades would like to announce that John Reed will be moving from his position as a Chairman of ActivTrades to Chair another business entity with ties to Alex Pusco, CEO and founder of ActivTrades.

Mr. Reed’s decision was mutually agreed upon and planned in advance. John Reed will be succeeded as Chairman of ActivTrades by Patrick Storey, who has been on the Board of the company as an Independent Non-Executive Director since October 2017.

ActivTrades averaged $58 billion in monthly trading volume in 2020, up 25% over 2019. The company is controlled by its longtime CEO, Swiss national and Monaco resident Alex Pusco.