LCG sales exec Damian Reed heads to GMI
Damian Reed was at London based LCG for the past eight years, working in a variety of sales related roles.
Damian Reed was at London based LCG for the past eight years, working in a variety of sales related roles.
FNG Exclusive… FNG has learned that the liquidators of bankrupt Swiss neobroker FlowBank have issued an updated circular to creditors, […]
The halt in operations at LCG last month occurred in the aftermath of the bankruptcy of the company’s parent FlowBank in Switzerland.
The appointment of the Liquidators has currently made it impossible for LCG Capital Markets Limited to carry out its operations.
LCG is owned by Switzerland based neobroker / neobank FlowBank SA, which is now in bankruptcy and liquidation.
Swiss regulator FINMA: FlowBank no longer has the minimum capital required for its operations, fears that the bank is over-indebted.
LCG, controlled by Swiss neobroker FlowBank, recently made a major shift in its business model to become an introducing broker.
Richard Wiltshire had been with OvalX / ETX for 15 years, joining in 2008 as Chief Dealer Foreign Exchange.
The problems at LCG come just days after FNG reported exclusively that LCG had made a decision to move to an introducing-broker model only.
Starting July 1, LCG will effectively become an introducing broker to (former) rival IG Group (LON:IGG).