Perrott had relinquished most of his management duties last year to new AxiTrader GM Alex Mackinnon.
In what seems like an orderly and planned exit, AxiTrader co-founder Quinn Perrott has resigned for stated personal reasons. Perrott does remain a shareholder and board member. After hiring his own replacement in the person of ex-ODL and FCStone exec Alex Mackinnon last year, Perrott had already moved to the background at AxiTrader in a strategic role, which he now leaves.
Perrott leaves AxiTrader in pretty good shape. Founded just over five years ago by Perrott (from City Index) and partner and current AxiTrader Chairman Goran Drapac (from CMC Markets), AxiTrader has grown to become the largest domestic FX broker down under — as we recently pointed out the UK’s IG Group and AxiTrader topped Investment Trends’ recent Australia CFD broker survey. While cementing a strong position in its home country, most of the growth recently at AxiTrader has been international, one of the reasons they brought in Alex Mackinnon. The previously London-based Mackinnon has lots of international experience — as Head of FX Prime Services at FCStone Europe, and as Head of Trading at ODL, which was acquired by FXCM in 2010.
Australia continues to be a focus destination in the retail FX industry, due both to the growing domestic market, and as an attractive and convenient base of operations for clients in China and the Asia-Pacific region, the fastest growing region in the forex industry worldwide.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.