LeapRate Exclusive… LeapRate has learned that former GKFX CEO Brian Myers has re-joined the Retail FX sector, hired as CEO of the fairly new Retail FX and CFDs brand Equiti.com, for the UK and the EU. He will also formally act as the CEO and a director of the company’s FCA regulated arm, Divisa UK Limited.
The appointment is still pending FCA approval.
We expect the company to make a formal announcement shortly.
Equiti.com is the operating brand of FCA regulated Divisa UK Limited, which is the UK arm of the Dubai based global financial group Equiti Group Ltd. Companies within the group include Equiti Group Limited Jordan, EGM Futures DMCC, and Divisa UK. The company also has subsidiaries in the US (Equiti US, formerly Divisa US), and New Zealand (Bloom Capital, formerly Divisa NZ).
The group had been fairly active in the institutional FX space for several years, but more recently launched the Equiti.com brand to expand to the Retail brokerage business. It looks like it will be up to Mr. Myers and his team to expand that brand, leveraging off the considerable resources of the group (more on that below).
As was exclusively reported by LeapRate back in April, Brian Myers resigned as CEO of FX broker GKFX after about 18 months on the job – which we now believe was in order to take the Equiti.com job. He had joined GKFX as CEO in late 2016 after leaving his position as VP Sales of OANDA Europe. GKFX has since hired former Capital Index co-founder Rob Woolfe to replace Mr. Myers as CEO, as was also exclusively reported by LeapRate.
Divisa /Equiti raised $100 million last year from a group of GCC investors led by Abdul Raouf Waleed Al Bitar, who now is the company’s controlling shareholder. Mr. Al Bitar, now Chairman of the Equiti Group, also sits on the board of a number of companies throughout the Middle East, including the Middle East Specialized Cables Factory (MESC), Springs Beverage Factory, Middle East Mold and Plastic Factory, Gulf Insulation Group, Shaker Group, and LG – Shaker Factory.
Since that fundraising the company and Group Managing Director Mushegh Tovmasyan have been on a hiring spree including bringing on board Sammy Christou from LCG as Head of Trading, Khaldoun Sharaiha from ADS as Co-Head of Retail Sales, Hormoz Faryar as Global Head of Institutional Sales, Tony Philip as CMO, and most recently former TradAir, TraderTools and Saxo Bank veteran Gabriela Liber for institutional FX sales.
Equiti Group CEO Iskandar Najjar said of hiring Brian Myers,
We are very pleased to appoint a new Divisa UK CEO with the depth and breadth of Brian’s experience and knowledge.
Brian Myers, new CEO of Divisa UK, said:
I’m absolutely delighted to take the helm of Divisa and be a part of the Equiti Group, which has demonstrated a strong growth trajectory in recent months, and reached significant global milestones.
I’m very much looking forward to leading Divisa’s growth with new initiatives and product offerings.