FNG has learned that longtime London Capital Group (LCG) executive Damian Reed has left the company, and moved to rival FCA regulated broker GMI.
Damian Reed was at London based LCG for the past eight years, working in a variety of sales related roles focused mainly on customer retention and High-Net-Worth Individuals. LCG, which is owned by now-bankrupt Swiss neobroker FlowBank, has been put up for sale by FlowBank’s administrators.
Global Market Index Limited, which operates under the brand GMI (or GMI UK) at website gmimarkets.co.uk, provides access to online trading for financial products including FX and CFDs for Professional and ECP clients. The company utilises proprietary software developed by its associated company (Finstek) for the provision of key parts of the infrastructure such as Bridge, FIX API, and advanced price aggregation technologies. GMI UK is controlled by former CEO Ashraf Ebid. In 2022 Mr. Ebid ceded day-to-day management of GMI to Zaid Alkhatib.
