When it comes to trading volumes, robustness, and success, very few markets come close to the scenes you find in London. For instance, this year’s average number of daily trades on the London stock exchange is well over one million. And most of those trades have to go through brokers and firms responsible for giving you access to the markets. This got us thinking about who’s behind these firms and what kind of people they are.
In 2018, statistics showed that in the UK alone, over 53 thousand people were working in the brokerage industry. And that’s a lot of business and employees to manage for the few people on top of these firms. This piece will look at three successful CEOs in the UK’s brokerage industry and see what we can uncover about who they are. We’ve also put together some of the top brokers in this list to help you start your investment journey.
Brendan Callan
Brendan is a twenty-year-long broker veteran and the CEO of Forex Capital Markets, FXCM, since 2017. One interesting thing we found about Brendan is his loyalty. He’s been with his firm for over 20 years, which is rare in this fast-moving world. He’s also a graduate of the London Business School, specialises in forex capital markets, and has a robust track record of growth and seeing projects through.
On the other hand, FXCM is one of the largest FX and CFD brokers globally, with its headquarters in London as well as multiple offices in different regions of the world. The brokerage regularly averages 200 billion in monthly trading volumes, and the responsibilities on Brendan’s shoulders are monumental. One of Brendan’s recent successes was rebranding the whole firm’s image and branding assets, including the logo, which clients took well to.
Fraser Edmond
Fraser is a twenty-five-year-long veteran with experience in the insurance and financial sectors. He’s a former head of distribution, sales, and marketing at Aviva, which gives him a unique view of the market as a leader. He is the CEO and co-founder of Broker Insights Limited, a technology lead company that aims to help brokers and insurers better understand data. He’s also been referred to as inquisitive, willing to go against the grain, and an effective and fun leader by his colleagues.
Furthermore, Fraser’s firm holds over £1.2 billion GWP for companies all over Britain, with a pool of over 173 brokers and multiple offices worldwide. He has also launched a new service that helps large brokers manage their markets by integrating some of Broker Insight’s firmware into their own and partners.
David Schwimmer
David is as big and successful as brokers come. He’s the CEO of the London Stock Exchange, a position he started in 2018. However, David is not British and hails from New York, where he was born and raised. He attended Yale University, where he studied for a bachelor’s in English and Harvard University, where he attained a master’s in law and diplomacy. We guess that also makes him part of the Skull and Bones organisation.
David has worked in New York for a while in a little-known company called Davis Polk & Wardwell, where he honed his skills as an associate. Even more impressive, David speaks fluent Russian from his time running Goldman’s Moscow operations, from where he moved to the UK to his current position. And on a more personal note, David is a massive fan of the New York Mets if you’re ever thinking about gift ideas for the CEO of the London Stock Exchange.
Let Us Summarize
Times might not look so good in the UK right now because of the crashing pound. And it might not seem like the best of times to say that the UK is one of the best places to be a broker or a trader, but it is. You might also not be certain about the future of your investments, but it’s always good to remember that, even though it’s a bit unsettling and unusual. It’s totally fine, and markets breathe from time to time.
Furthermore, with people like David and other competent CEOs at the helm of some of the world’s most important financial institutions, you’re sure to navigate these choppy waters with the least discomfort possible.
