4X Currency, the UK-based online foreign exchange dealing company for retail investors, has appointed Colin Smith as Senior Account Executive. He will head up 4X Currency’s business development and sales strategy following the launch of its new 4X Dealer technology, which aims to enable individuals and companies to receive live, up-to-the-minute, market rates on their desktops.
Smith comes out of retirement, having previously spent 25 years at Commerzbank, where he was successively Assistant General Manager, Head of Treasury Management and Chief Foreign Exchange Dealer. Prior to joining Commerzbank, he was Assistant Vice President, Group Chief Dealer for World Banking Corporation in Nassau. He has also held positions in FX trading at the North Carolina National Bank and the Marine Midland Bank.
“4X Dealer is a unique offering as it allows users to make real-time currency transfers without the need for long, costly phone-calls to a bank,” says Helen Scott, 4X Currency’s Director. “Over the last year, we have invested heavily in the technology needed to support our organisation and really establish 4X Currency within the FX industry. With his proven track-record and impressive experience in the financial and FX markets, Colin Smith will play a pivotal role in supporting our customer and sales expansion.”
“When I heard about 4X Currency and its new FX technology I found it very exciting,” says Smith. “4X Currency is able to offer a very innovative product to its customers – something that they could not get from any traditional high-street bank. Over the last 40 years I have seen the FX industry develop considerably and become increasingly competitive but for 4X Currency to be able to offer something new to the market is both an interesting and exciting time.”
4X Currency aims to deal in large volumes at wholesale rates with major institutions to improve foreign exchange rates for individuals, taking in up to half a million real-time exchange rates a day from the London market.
4X Currency says it is the only currency company in the world to be endorsed by ABN, and is also registered with HM Revenue and Customs as an overseas money provider. It is also a full member of, and sits on the Board of, the UK Money Transmitters Association.