Gain Capital Holdings, the New York-based online trading business which caters to retail and institutional investors, has named a new chief product officer and executive management team member. 

In the newly created role, Muhammad Rasoul will lead the development and execution of Gain's product strategy across both its retail and institutional business lines. He will be based in New York.

Prior to Gain, Rasoul was executive vice president, chief operating officer at GFT Markets, where he spent 16 years.

In response to Rasoul joining the group, CEO Glenn Stevens expressed his ambitions for the firm to continue to deliver new, innovative products that lead the industry, as well as accelerate its expansion into further asset classes and new geographies, like Asia-Pacific.