GFI's former chief operating officer, who quit unexpectedly in April with a pledge not to compete with his employer, has returned to the interdealer industry after taking up a non-executive position on the board of a French broker.

Steve McMillan, who left GFI in a suprise move last April "to pursue new entrepreneurial opportunities that are not competitive with GFI's business", has been named non-executive director at Paris-based OTCex, an interdealer specialising in over-the-counter and listed derivatives.