LeapRate has learned that Oanda Chief Marketing Officer (CMO) Drew Izzo has left the company, becoming the latest in a string of senior level departures at Oanda over the past year or so.
The very engaging Mr. Izzo has posted a message stating ‘Free Agent at Large‘ on his LinkedIn page, indicating that his two year stint at Oanda is over. Izzo had previously been VP Marketing at IBFX for about four years, leaving soon after IBFX was acquired by TradeStation for $17 million in early 2012, becoming part of Japan’s Monex Group.
Oanda’s main centers of operation are Toronto, New York and London, however Mr. Izzo remained living in San Francisco during his tenure at Oanda.
We understand that Mr. Izzo’s departure, as well as those of other senior Oanda executives (more on that below), is in part tied to a change in strategy at Oanda, to focus more on its currency data and technology businesses, as well as institutional FX.
We also understand that Oanda took a substantial hit in the January 2015 Swiss Franc crisis, one from which it hasn’t fully recovered and which led to budget cuts and (in part) to the change in strategy and approach to the business.
Other recent Oanda executives leaving include:
- Sept 2016 – AxiTrader hires Oanda and CMC Markets veteran Louis Cooper as Global Head of Retail Services
- Aug 2016 – Brian Myers resigns as VP Sales of OANDA Europe, and joins GKFX
- Apr 2016 – Tradeworks hires former OANDA trading coach and bestselling author Stuart McPhee