Tomoharu Furuichi has “resigned” from his role as
Representative Director and CEO of IG Japan. He posted the news on LinkedIn
today (Thursday). He held the role for nearly seven years.
Separately, IG Securities, the Japanese arm of IG Group, has
stopped offering cryptocurrency ETF CFDs. The decision follows guidance
from Japan’s Financial Services Agency clarifying that derivatives based on
overseas crypto ETFs are treated as crypto-related products and fall under
domestic regulations, since the creation and sale of such ETFs is currently
prohibited in Japan.
IG Japan CEO Resigns After Growth
In the post, Furuichi said: “IG Japan has become several
times bigger than it used to be. It has become the largest foreign-branded
retail broker in Japan, despite operating in a smaller segment, OTC
derivatives. I have given all I could, and time has come for a new leader.”
Furuichi has held senior roles in both financial and
consumer sectors in Japan. He was CEO of GILT Groupe K.K., an online luxury
retail company with around 130 employees, for about one and a half years. He
oversaw a change program covering strategy, organization, and operations, which
led to profitability and revenue growth. He left after the parent company sold
the business.
Furuichi’s Career Spans Finance and Retail
Before that, Furuichi spent nearly six years as a director
and board member at Samantha Thavasa Japan Limited, overseeing store
operations, production and logistics, IT, HR, e-commerce, and overseas
business, while leading corporate change initiatives.
Earlier in his career, he worked for almost three years as a
senior director at AlixPartners in the Greater Tokyo Area.
New Client Discount Program Concludes
IG Japan’s subsidiary discontinued
its introductory trading program for new clients. The program, which
allowed reduced minimum trading during the first two weeks after account
opening, was phased out.
IG Japan said the decision followed earlier changes to
product sizes, which created a “more comfortable trading environment” and
reduced the need for incentives. Accounts opened before the termination date
continued to receive the program benefits until it ended.
This article was written by Tareq Sikder at www.financemagnates.com.
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