LeapRate Exclusive… LeapRate has learned that former City Index CEO Mark Preston is joining the board of FCA-regulated Monecor (London) Ltd, parent company of retail Forex, CFDs and spreadbetting broker ETX Capital.
Preston’s role will not be a management one at ETX. He will be serving as an Independent Non Executive director on the company’s board.
Mark Preston served as Chairman and CEO of ETX rival City Index for about two years between 2013-2015, leaving the company last May after City Index was acquired by US rival Gain Capital Holdings Inc (NYSE:GCAP), parent of Forex.com.
He has since moved on to become a Managing Partner at Exotix Partners, an investment firm specializing in frontier markets, as well as a non-executive board member of several companies.
Mark Preston’s appointment comes as two long-serving independent directors step down from the ETX board, Joanna Nader and Edwin Marlow. ETX non-executive directors are typically appointed for two terms of three years each, or six years in total. In addition to Preston, ETX plans to name another independent non-executive director in due course.