Gain Capital (forex.com) hired Joseph Wald, to lead the institutional business as a VP. Wald’s recent position was the head of a similar unit at Knight Capital.
Gain Capital recently received GFT’s clients after the latter left the US market. For more details about this move, here is the official press release:
NEW YORK, LONDON, and SINGAPORE – January 17, 2013 – GAIN Capital Holdings, Inc. (NYSE:GCAP), a global provider of online trading services, announced today the appointment of Joe Wald as Executive Vice President, Head of Institutional. Joe will be responsible for leading GTX, GAIN Capital’s institutional business. He will report directly to CEO Glenn Stevens and will be based in GTX’s New York offices.
“Joe is a talented visionary with the proven ability to grow trading volumes and build innovative product and service offerings for leading institutional platforms,” said Glenn Stevens, GAIN Capital CEO. “Institutional trading is an important part of our growth strategy and having Joe lead this part of the business will help us build on the success we’ve had to date and achieve our goal of becoming a market leading ECN in the FX space.”
Joe was most recently Head of Knight Direct, Knight Capital Group’s institutional electronic trade execution business. Prior to Knight Capital Group, he was co-founder and CEO of EdgeTrade, a pioneering firm that served as an agency brokerage and developer of algorithmic trading and direct market access software for equity markets. EdgeTrade was acquired by Knight Capital Group in 2008. Joe holds a BS in Business, Management and Finance from Brooklyn College.
“Performance and innovation are crucial to the institutional FX space, given the significant number of competing venues and platforms,” said Joseph Wald. “I’m looking forward to leveraging almost 20 years of experience in the equity world to bring a new level of innovation to the institutional FX space and help differentiate GTX from the competition.”