Nearing the end of 2010, the largest players in the Forex industry have begun an active overhaul of their personnel. This can, in part, be connected to changes in outlook in the world of Forex. As such, many companies have resorted to drastic measures and said goodbye to their old top managers, bringing new faces to the team. Some have decided to strengthen their weak or, conversely, their strategically important areas and have headhunted experienced managers from competitors for key positions. Varalen Trading Corp., a provider of ready solutions for the brokerage business, has kept pace with this overall trend.
VTC’s owner and CEO Christopher Varalen has announced the appointment of Karen Smith as Technical Director, who will now head the company’s IT division. “We are continuing to strengthen both our management and technical directions. Karen Smith’s hiring supports Varalen Corp.’s culture, centered around continuously evolving technologies,” said Christopher Varalen.
In her new role, Karen Smith will oversee the development of strategic solutions and operations of Varalen’s IT division. She will manage a team of 60 people. Smith is set to start in December 2010 and will work at VTC’s headquarters.
Smith first began working in the high-tech industry in the early 1990s. Her impressive track record includes leadership positions in companies including Lehman Brothers, Nomura, and Macquarie Securities Group. At the latter she served as division director and CIO.
Smith’s hiring may prove to be very timely, especially in light of current events in the financial sector. Considering her vast experience in this industry as well as the corporations she worked for and the key positions she has held, it is clear that the new technical director is ideally suited to address the challenges that have arisen in today’s market reality.
“I’m happy to be joining this talented team during a period of global changes for the company. Everyone knows that Varalen Corp is a trailblazer in its field, and I am certain that together, we will improve VTC’s client services and reach even greater heights. I’m ready for new challenges; in fact, I’m looking forward to them. I am eager to contribute to the success of VTC.”