Executive Vice President Joseph Wald Leaves GTX, GAIN Capital’s Institutional Division

Forex Magnates has learned that the Executive Vice President of GTX, GAIN Capital’s institutional division is parting ways with the company. Vincent Sangiovanni, Chief Operating Officer of GTX, will continue in his role and will lead the GTX business, and he now reports directly to Glenn Stevens, CEO of Gain Capital.

Mr. Wald had joined GAIN Capital in January 2013 as part of string of high level appointments at the time. Glenn Stevens, GAIN Capital’s CEO explained then that: “Institutional trading is an important part of our growth strategy and having Joe lead this part of the business will help us build on the success we’ve had to date, and achieve our goal of becoming a market leading ECN in the FX space.”

Prior to his appointment at GTX, Mr Wald held senior positions at other large companies in the industry. Most recently, he was head of Knight Capital Group’s institutional electronic trade Execution business. Before joining Knight, he was co-founder and CEO of EdgeTrade, a pioneering firm that served as an agency brokerage and developer of algorithmic trading and direct marketing access software for equity markets. EdgeTrade was acquired by Knight Capital Group in 2008. Mr Wald was educated at Brooklyn College, from where he graduated with a Batchelor of Science degree in Business Management and Finance.