Head of prime brokerage at EBS leaves firm

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The head of EBS Prime has left the firm after nine-years, according to people familiar with the situation.

David Faulkner, who joined the firm for more than nine-years ago, was based in London. EBS declined to comment on his departure. EBS prime brokerage was launched in 2003. Since replacing David Rutter as CEO of EBS in March, Gil Mandelzis has made a series of changes at the firm, including appointing Nichola Hunter as global head of product management, based in London. She replaced replaced Brian Andreyko, who left the company shortly after Mandelzis was appointed, along with Chip Defilippo, FX product manager, who also left the firm. Andreyko and Defilippo were based in New York. Earlier this month, EBS announced changes to its FX trading rules. Among these changes, the platform will switch the major G10 currency pairs to half pips. EBS will also now offer revised quote and hit fill ratios out to 40% set on a pair-by-pair basis, and will take a stricter approach to enforcement of fill ratio policies that include the cancellation of financial surcharges for non-compliance.