FNG Exclusive… FNG has learned that longtime Retail FX industry executive Rob Woolfe has joined the board of CFDs and Financial Spread Betting broker Capital Index, a company he once headed as CEO.

Rob Woolfe has been involved in the Retail FX and online trading sector for more than a decade and a half. He was FX Sales Director at IG from 2005-2008, before moving to ETX Capital as Head of FX. In 2014 he joined Capital Index as CEO, leaving in 2018 to become CEO of GKFX, and then LCG. Over the past couple of years he has acted as a consultant to some Retail FX brokers.

While Rob Woolfe will be joining as a non-executive director, given his experience and ties in the industry we understand that he will be helping controlling shareholder Greg Secker find the right replacement for Matthew Wright as CEO. As was also exclusively reported here at FNG in July, Matthew Wright has resigned as CEO of the company although he does however remain a minority shareholder and an employee.

That move comes after a rough 2020 for Capital Index – 2020 Revenues came in at £2.44 million at Capital Index, down 11% from 2019’s £2.74 million. Net profit was marginal at £87,000, fairly similar to 2019’s £64,000. And that came in a year when many of its London based competitors saw record activity, driven throughout the 2020 calendar year and into 2021 by heightened market volatility as the COVID-19 pandemic unfolded worldwide.

Capital Index (UK) Limited is an FCA regulated brokerage specializing in CFDs, Financial Spread Betting and Spread Trading. The company is controlled by forex trading coach Greg Secker, who bought into the company in 2016.