Axi management was sold via a management buyout, from RGT Capital to the team led by CEO Rajesh Yohannan.
Axi or known as AxiTrader acquired new management without some broad announcement. The ownership of this Australian-based retail FX is now on Rajesh Yohannan, CEO of Oanda. FNG, the media that exclusively wrote this news, notified that the change has been done through a management buyout (MBO).
RGT Capital, the former management of Axi, handed on the broker to Yohannan's team because they considered Axi not to have a high impact anymore. For your information, RGT Capital is a multi-family office investment firm run by its Chief Investment Officer, Adam Wilson. RGT Capital expands its business across various industries. Tasman Lifestyle (manufactured housing), Tigerspike (mobile apps), Young Henrys (craft beer), and Right2Drive (automotive insurance) are some of RGT's.
Over the past few years, RGT has tried to release its Axi investment. However, it never came to a deal. Even an IPO did not make its six-years controlled company taken by another company. Finally, a management buyout was a solution. FNG Team then confirmed the issue to Rajesh Yohannan. Overall, he is optimistic that his long experience in the financial industry, will give him a better future for Axi.
"Myself and the senior management team represent over 120 years of experience in the CFD and Margin FX retail space, and we believe we are best placed to take the company forward, and truly deliver an Edge to our valued clients and partners across the 100-plus countries we operate in. We are well capitalized as a company and regulated by top tier regulators across the globe – notably by the FCA in the UK, ASIC in Australia, and the DFSA in the UAE – so we are well placed for responsible growth," Yohannan said.
“Our entire strategy is focused on giving our clients and partners an Edge. We have recently done a soft launch of our own proprietary trading platform, in addition to our MT4 and MT5 platforms, which we believe will disrupt the current retail trading and investing marketplace by providing retail traders and investors unprecedented access to information, capabilities, and services which will truly give them an Edge in their trading."