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The largest forex broker in the US, Oanda, has a new CEO: K. Duker. He replaces long running CEO  Michael Stumm after 14 years in this position.  Stumm remains on the board. The move is effective immediately.

Duker’s expertise is in the Asia-Pacific region, where he worked as a managing director for OANDA and beforehand has the of Deutsche Bank’s eFX business in this region.

It seems that Oanda’s move refreshes management after many years, and also shows that Asia is becoming more important.

K Duker - CEO of Oanda

The Board of Directors of OANDA Corporation, a leading provider of foreign exchange services, has appointed K Duker as Chief Executive Officer of the corporation. Effective immediately. Mr. Duker will succeed Michael Stumm, who will remain a member of the OANDA Board.

“As one of OANDA’s co-founders, Michael Stumm’s unique vision and technical expertise led to the creation of a company that literally changed the way retail customers approach forex trading,” noted OANDA Board member, Kittu Kolluri. “On behalf of the OANDA Board of Directors, I thank Michael for his considerable contributions to OANDA, and I’m pleased to confirm that Michael will continue to offer his insight as a member of the Board of Directors”.

For more than two decades, K Duker helped shape the foreign exchange industry. Prior to joining OANDA, Mr. Duker headed up Deutsche Bank’s eFX business in Asia Pacific and for the past four years, has served as Managing Director for OANDA’s Asia Pacific division.

“K Duker has demonstrated his commitment to customer service excellence as evidenced in his remarkable stewardship of OANDA’s Singapore office,” said Kittu Kolluri. “During his tenure with OANDA, K has been a close advisor to the firm’s leadership drawing upon his many years of incomparable industry experience.”

“The Board is confident that K brings the leadership skills and deep financial knowledge to take on the responsibility of guiding OANDA in the next phase of the firm’s growth. The Board is unanimous in selecting K as the best possible leader to build on Michael Stumm’s incredible legacy and has every confidence that under K’s guidance, OANDA is well-positioned to expand its global presence as a preferred forex provider.”

“My passion is to build teams for success and I believe success can only be measured by how well we meet the needs of the client”, added Mr. Duker. “Michael Stumm used this same philosophy to develop OANDA into a leading forex provider and this approach will continue to be OANDA’s calling card. Be assured that OANDA will remain committed to providing best-in-class spreads together with the ultimate in customer service, and will strive to protect OANDA’s sterling reputation with regulators. OANDA’s one goal is to become the destination of choice for retail forex traders globally.”