John Farrell Quits Position of Global Head of Sales at Fair Trading Technology

John Farrell, Fair Trading Technology's Global Head of Sales, has handed in his notice to leave the firm, according to an investigation by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates. Farrell has joined Fair Trading Technology (FTT) as Global Head of Sales in October 2012, after serving in the same position at FXEcosystem.

Mr. Farrell attended the iFX EXPO in Macau last week on behalf of FTT, during which he was fully committed to the company and gave no indication of intention to move on.

CEO Confirms Departure

Forex Magnates reached out to FTT's CEO Tim Haman, who confirmed the imminent departure of Mr. Farrell by explaining that, "John Farrell is departing from FTT on good terms. We are assessing our options to fill the gap, meanwhile he will stay on for a few more weeks to manage the hand over. The process of growing the sales team started even before John's resignation. We are currently looking for experienced sales reps from the industry to strengthen the team."

It seems like 2013 was not an easy year for the Swedish FX Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, whose senior management had experienced serious challenges in various attempts to secure the future of the firm. Among these challenges were attempts to restructure the company's operation and a contraction of its sales team. FTT also recruited Chief Human Resources Officer Lisa Bogren last year, to grow the team and to enter new markets and onboard further corporate customers.

A former FTT executive has shared his view with Forex Magnates, claiming that the company is due to "implode soon."

Mr. Farrell told Forex Magnates that, "I cannot officially comment. I have resigned but at this point I am bound by a notice period during which I must hand my position over, and I am still due some salary. FTT has not yet accepted my resignation, but I will be moving on."

FTT did not indicate its plans to replace Mr. Farrell.