US based Forex Broker Gain Capital (forex.com) announces the appointment of Peter Cronin as the head of institutional sales business in the region of Europe, Middle East and Africa.
The company enjoys higher institutional trading volume in recent months. For more about the appointment, here is the official press release:
LONDON, SINGAPORE and NEW YORK, August 1, 2013 – GAIN Capital Holdings, Inc. (NYSE: GCAP), a global provider of online trading services, announced today the appointment of Peter Cronin as Managing Director and Head of EMEA GTX Sales. Peter Cronin will be responsible for growing GTX, GAIN Capital’s institutional business, in Europe, the Middle East and Africa. He will report directly to Executive Vice President and Head of GTX, Joseph Wald, and will begin his new role in GTX’s London offices starting August 5th.
“Peter is an accomplished and talented banking professional who is moving to the FX ECN business at a time when the global foreign exchange industry is undergoing many exciting changes,” said GAIN Capital Executive Vice President and Head of GTX, Joseph Wald. At GTX, Peter Cronin will specifically be responsible for growing the institutional client base and ECN volumes, and building out the EMEA sales team.
Previously, Mr. Cronin was Head of EMEA e-Commerce at UBS Investment Bank, where he managed a 16-person sales team situated in Zurich, Lugano, Dubai and the United Kingdom. Mr. Cronin joined UBS in 2000, and during his 13 years tenure held senior roles focused on developing the bank’s e-Commerce business.
“I’m proud to be joining one of the fastest growing FX ECNs in the industry,” said Peter Cronin. “GTX is focused on creating and sustaining a balanced marketplace for FX trading where market participants can obtain quality executions and reap other benefits from the company’s next-generation liquidity management technologies. I look forward to expanding the GTX business in Europe, and will draw upon my previous accomplishments in fulfilling this mandate.”
On July 16th, GTX reported average daily institutional volume of $18.4 billion for June 2013, an increase of 10% from May 2013 and 137% from June 2012.
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