By: DailyForex.com
Mark Preston, former City Index CEO, has just been appointed to the board of FCA-regulated Monecor Ltd, the parent company of retail spreadbetting broker, ETX Capital.
Preston served as the Chairman and CEO of ETX's rival City Index for the two years between 2013-15. He left the company last May following the acquisition of City Index by US rival Gain Capital Holdings Inc., the parent company of Forex.com. 
After his stint at City Index, Preston became a managing partner at Exotix Partners, an investment firm that specialized in frontier markets. He has also served as a non-executive board member for several other companies.
Contrary to the information noted in the press article released several days ago, Preston will not hold a management role at ETX but will serve as an independent non-executive director to the company's board. He replaces two long-serving independent directors, Edwin Marlow and Joanna Nader, who recently stepped down.
ETX Capital, founded in 2002 and domiciled in the U.K., is a member firm of the London Stock Exchange and offers multi-asset and multi-market derivatives through CFDs and spread betting products to individuals and institutions based in Europe and other locations.
FOREX.com is a currency trading website operated by Gain Capital Holdings, Inc., a financial services company that's been in business since 1999. Gain Capital is listed on the New York Stock Exchange. Forex.com is regulated by the Financial Conduct Authority in the UK as well as in five other jurisdictions around the world and has won rewards for the best research and analysis by FX Street for 2014 and 2015.
London has long held its status as the worldwide center for institutional FX, with the majority of the largest interbank FX dealers being located in the British capital. Preston will be transferring his extensive experience in the field from one London-based Forex broker, to another one.