Exclusive: Vyacheslav Taran Takes Over for FXClub as 3rd CEO in Three Years

According to 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 sources, Vyacheslav Taran, Founder and Chairman of the Board of FXClub is taking over the helm as CEO of the broker. Taran becomes the firms’s third CEO in two year, replacing Vladamir Kozlov who had been appointed in September. Before Kozlov, the CEO postion had been held by Rafael Carrascosa. The change occurs as Taran has been recently become more involved with the broker, having been voted to the Chairman of the Board position this March.

For FXClub, the recent events are just a continuation of change taking place at the broker. 2012 was highlighted by the firm’s exit from the US. Initially it had downgraded it status to an RFED and partnered with FXCM as an Introducing Broker, but it has since made a complete exit, and appears to be focusing primarily on Russia and the CIS.

In terms of the CEO switch, unlike the previous change which could be attributed on the broker’s performance and exit from the US under the leadership of Carrascosa, the current news may have little to do with outgoing Kozlov’s performance. Kozlov had come from Quadro Capital Partners, where he was one of the private equity firm’s founding directors.

As an investor in FXClub, Quadro had been working together with their management. Therefore, Kozlov’s appointment was in a ways an extension of work he had previously been doing with the broker. However, as often is the case when investors become managers in their portfolio firms, the appointment is a short term move to assist during turbulent times and or internal changes taking place. In terms of FXClub, such a scenario would fit as Kozlov may have been sent by Quadro to protect their investment. As such, Kozlov’s exit may have more to do with his return to day to day involvement with Quadro’s portfolio management operations.

We reached out to FXClub for more information on the appointment, and as of publishing time have yet to receive a response about the news. We will update as we receive new information.