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FX Solutions Builds on Momentum with Key Senior Management Team Hire

email this aricle - FX Solutions Builds on Momentum with Key Senior Management Team Hire - Saddle River, NJ - 24 July 2007 print this article - FX Solutions Builds on Momentum with Key Senior Management Team Hire - Saddle River, NJ - 24 July 2007
Second New Executive Following Francisco Partners’ Investment

FX Solutions, an IT-driven online foreign exchange brokerage auto-executing almost 99 percent of customer trades, today announced the hiring of Brett Miller to the position of Chief Marketing Officer. Miller is FX Solutions’ first CMO.

A long-time e-commerce executive, Miller previously served as vice president and general manager at LVMH subsidiary Sephora USA, with P&L responsibility for Sephora.com, the company’s largest Internet business. During this time, Sephora.com was named a Top 50 Internet business by Internet Retailer Magazine, with a similar ranking for the company’s contact center, also overseen by Miller.

While at Sephora.com, Miller led many Internet initiatives, including launching expanded brand “stores” for Sephora partner brands, introducing a new tool for finding fragrances online, and redesigning the company’s site. During his tenure as head of Sephora.com, the business experienced rapid growth and was reported to be among the largest cosmetics stores in the world – whether online or retail.

“Brett brings unique strengths, a deep understanding of customer behavior and knowledge of how to ‘speak’ to customers online, with a strong track record of producing positive results in his previous positions,” said Robert Cortright, managing partner of FX Solutions. “In hiring Brett, FX Solutions is gaining a unique perspective that will help us to take a more comprehensive look at our customer lifecycle and acquisition process, and better plan for growth.”

Prior to Sephora, Miller was Vice President, Marketing & Strategy Services, for Modem Media, a leading interactive agency and consultancy based in San Francisco. In this role, he had direct responsibility for several Fortune 500 Clients and their large-scale website development projects and online marketing efforts. For the five years he worked at Modem, Miller worked with several financial services clients including two online brokerages.

“FX Solutions has done a great job of building a world-class forex platform, and is a leader in this space from both a retail and institutional perspective. That was validated by the recent investment made by Francisco Partners,” said Miller. “My job is to help take that to the next level, and apply a more systematic approach to marketing efforts so that we always provide the best customer experience through continually improving our highly automated platform. Add to that a number of up-coming new product launches, and I think there is a great story to tell.”

Miller’s hiring follows closely behind that of Daniel Darst, former head of global partnerships at Saxo Bank, who joined FX Solutions as executive director of institutional and partner business. Both hirings follow FX Solutions receiving an investment in excess of $100 million from Francisco Partners on April 12, 2007.

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