LeapRate Exclusive… LeapRate has learned that Russia-focused brokerage ITI Group, which earlier this year bought control of FCA regulated broker Walbrook Capital, has named gaming and technology expert John Barker as Non Executive Chairman, also adding Mr. Barker to the board of Walbrook.
John Barker, Walbrook
John Barker was Managing Director and Head of International at institutional dark pool trading network Liquidnet Europe Ltd from 2001-2012, after serving for 10 years as Head of Operations for institutional broker Instinet. More recently Mr. Barker has been an active board member and investor in a number of companies. Most notably, John Barker has been an investor and board advisor since 2013 in the European Gaming League (EGL). EGL hosts competitive gaming events and tournaments throughout Europe, primarily in the UK.
FCA regulated CFDs broker Walbrook Capital Markets Limited was originally known as FXCM Securities, the UK CFD arm of Global Brokerage Inc (NASDAQ:GLBR) unit FXCM. FXCM sold the company in late 2015 to Latvian billionaire Igor Kim’s AS Expobank, as part of FXCM’s program to sell assets and businesses in order to repay its large loan to Leucadia.
Expobank renamed the company Walbrook and brought in a couple of new CEOs over its short tenure as owner, neither of whom was able to grow the business. Walbrook posted a £4.0 million (USD $5.2 million) loss in 2016 amid plunging revenues. Last at the helm as CEO under Expobank was Conor Ringland, who was previously Head of the UK for Denmark-based Saxo Bank from 2007-2014, and has also worked at E*TRADE Financial Corp (NASDAQ:ETFC) and most recently was Head of Financial Markets – Digital at Lloyds Bank.
Expobank then turned around and sold Walbrook earlier this year to ITI Group, a Russian focused brokerage, which received backing for the deal from Russian venture investment firm Da Vinci Capital.
We understand that ITI / Walbrook is currently strategically building out a significant prime brokerage business for the institutional and high net worth community. The company is apparently looking to make further acquisitions in order to build and grow its position in the markets.