GFT Forex, an online-currency brokerage that focuses on individual investors, said strategists Boris Schlossberg and Kathy Lien will leave the company in June to form their own asset-management firm.
The venture, which is going through regulatory approval, will be called BK Asset Management and will be based in New York, according to Schlossberg, director of research at GFT since 2008. The startup should be “up and running” by mid-June or early July, he said in an interview today.
“For a long time people have asked us to run money and we have found that to be exceedingly difficult to do working for a broker-dealer because of regulatory barriers,” Schlossberg, 48, said. “We’ve decided after doing advisory service for four years to finally take it to the next level and manage funds.”
Schlossberg and Lien, director of currency research, have worked together for seven years. They started at FXCM Inc. and in 2008 together moved to GFT in New York.
Linda Chamberlain, senior vice president for global strategy in New York at GFT, confirmed their departure. No successors have been named to the positions yet.
“This is only the beginning of what we will be doing,” Lien, 31, said. “We are looking forward to expanding rapidly.”
They will continue to publish currency market analysis and updates, Lien said.
GFT Forex is based in Grand Rapids, Michigan, and also has offices in Singapore, Tokyo, Sydney and London.
To contact the reporters on this story: Catarina Saraiva in New York at firstname.lastname@example.org; Allison Bennett in New York at email@example.com
To contact the editor responsible for this story: Dave Liedtka at firstname.lastname@example.org