FNG Exclusive… FNG has learned that Far East based Retail FX and CFDs broker EBC Financial has made some more changes to its leadership team at the group’s FCA regulated operation in London, hiring Rudy Rehal and Zack Ioannou to head EBC’s UK business, EBC Financial Group (UK) Ltd.

The moves follow the departure of longtime EBC UK Director and CEO David Barrett earlier this year, after EBC accused him of misappropriating funds from the company’s bank account, leading to a write-off of £747,000 at EBC UK. According to regulatory filings made by the company, the matter is currently under investigation by authorities, whilst EBC is considering its legal options.

Joining EBC UK are:

Rudy (Rubinder) Rehal. Rudy Rehal (pictured at top left) joins EBC UK as Chief Executive. He spent the previous 13 years at energy markets focused broker Evolution Markets, overseeing compliance, brokers and business development for Evolution’s UK operation. Rudy also previously worked at Tullett Prebon, ADM futures, ABN Amro, and Merrill Lynch.

Zack (Savvakis) Ioannou. Zack Ioannou (top right) joins EBC UK as Executive Director, after spending the past nine years at Pepperstone, where he was Executive Director and Regional Head of Compliance for the UK and EEA regions. He also served as Executive Director of Pepperstone Markets Kenya. Zack has also previously worked at GCM Prime, easyMarkets, and FxPro.