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Foreign Exchange

Oanda appoints new CEO

Oanda, one of the world’s leading retail FX platforms, has appointed a former Deutsche Bank e-commerce head as its new chief executive officer.

K Duker will replace co-founder Michael Stumm, who will remain on the firm’s board. Duker, who has spent the past four years as managing director of Oanda’s Asia Pacific division, will relocate to Toronto. Before joining Oanda, Duker headed up Deutsche Bank’s eFX business in Asia Pacific.

Kittu Kolluri, Oanda board member, says the decision to appoint Duker was unanimous.

“The board is unanimous in selecting K as the best possible leader to build on Michael Stumm’s legacy and has every confidence that, under K’s guidance, Oanda is well-positioned to expand its global presence as a preferred forex provider,” he says.

Oanda has eight offices worldwide, in Dubai, Chicago, London, New York, Singapore, Tokyo, Toronto and Zurich.

Last month, the company announced a white label tie-up with HSBC to deliver margin FX trading to retail customers in Hong Kong.

The deal, which was managed through Oanda’s Singapore office, is thought to be the first of a series of retail FX launches HSBC could push out globally.

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