FX technology provider Leverate has today announced that it has completed a senior-level restructure, elevating the company's former co-founder and co-CEO to the position of Chairman of the Board of Directors.
Consequently, Ran Strauss will assume the position of CEO, having previously worked alongside Mr. Cohen as co-CEO.
Leverate's steady program of expansion has resulted in offices having been opened in strategically practical locations globally, and has provided the company with access to local talent in those regions, including the recent appointment of ex-FX industry consultant Christoforos Theodosiou as General Manager of the company's Cyprus operations following the departure of Eyal Wagner.
Leverate Seeks Continued Growth
From a corporate perspective, Leverate considers the appointment of Mr. Cohen as Chairman of the Board of Directors to be a necessary step which will position the company correctly in order to achieve continued growth.
With this change taking effect as of January 1, 2014, Mr. Strauss will be solely responsible for the daily operation of the firm, leaving Mr. Cohen to concentrate on corporate governance and overseeing the board.
In an interview with Forex Magnates in October, Mr. Strauss confirmed that the company plans on "growing our client base, increasing our focus on social trading, continue providing the best FX technology available today, and infiltrate new markets with new products."
He also demonstrated his advocacy toward an abundance of different technology solutions available on today's market for brokers to choose from and customize accordingly. Mr. Strauss considers that there are virtues in what he sees as a "financial supermarket," whereby users can "pick and choose the products that they wish to use."
He explained further that, "Brokers should be offering a diverse product offering to their clients. Most brokers still offer just one platform, but when there is a diverse platform offering, a broker gains a custom angle and already differentiates himself from the competition."
Evolution Of Technology Firms Moves Key Personnel
Leverate's structural changes appear to denote possible changes within the FX technology sector. In July this year, Boston Technologies experienced the departure of Kevin Millien, a 50% shareholder in the firm. This follows similar lines to the departure of Mr. Wagner from Leverate, who subsequently assumed the position of CEO at Safecap's Cyprus operations, signaling a move from the technology sector into leadership of a retail brokerage.
Speaking on behalf of the company today, Mr. Cohen explained the corporate decision behind his appointment:“Leverate quickly grew from a four-man Startup to a 150-employee-strong global technology company in less than six years.”
“We decided to create a clearer management structure that would better fit the company size, and be conducive to continuing our fast pace of growth,” he concluded.
“I am proud and excited to take the reins of Leverate and I am committed to the continued success of ourselves and of our clients," added Mr. Strauss. “We foresee significant growth in our new and existing business during the next few years, and in order to achieve this, we will be delivering more technology solutions of the highest calibre.”
