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.ExecutivesRead More

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