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The CEO of Destek Markets, Matthew Wright, has left the company to take up a role at a rival retail FX broker, Capital Index.
Wright joined Destek, a Turkey-based company, less than a year ago, having been brought in by the major shareholder Altunc Komova, to set up a new team and manage the UK arm of the business. Destek UK was awarded its Financial Conduct Authority (FCA) licence as a matched principle broker at the start of the year.
In his role with Destek, Wright had been responsible for hiring a number of key management figures, including Heiko Mueller, the former GKFX and Alpari executive, who took on the role of Chief Commercial Officer, and London Capital Group Holding’s Rowena Harris-Doughty, who was appointed as Marketing Director.
Wright is set to take up his new position with Capital Index in January 2018. Based in Cyprus and London, Capital Index is a new operator in the industry, which gained its licence from CySEC, the main regulator in Cyprus in 2014 and its FCA license two years ago.
Upon moving to his new role, Wright will be replacing the co-founder Rob Woolfe. Woolfe set up Capital Index in 2014 after leaving his role as Head of FX at ETX Capital, and was backed financially by well-known Forex trader Greg Secker. Mr. Woolfe left his role at Capital Index several months ago, and had been replaced in the interim by COO Joanne Page.
Before he joined Destek, Wright worked as the COO of the UK base for Gain Capital Holdings Inc for eight years, leaving at the end of 2016. Following his departure, Destek’s Istanbul-located Managing Director Tuna Yilmaz will be replacing Mr. Wright on the board, and will fill the CEO role until a replacement can be found.
Speaking to the media about the new appointment, Page said that Wright was the ideal person to lead the company in the current spread betting broker environment: “We are delighted that Matt is joining our company. His experience and knowledge of the industry is perfectly placed to steer us as we enter into a new year and a new regulatory horizon for our industry.”
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