Skander Malcolm will take the helm of foreign exchange company OFX Group, after an extended period of weak trading saw CEO Richard Kimber step down.Malcolm is well known to OFX chair Steve Sargent. Malcolm was president and CEO for Australia and New Zealand of GE Capital for three years until the end of 2012. He led its retailer solutions division for two years before that. Sargent has a long GE heritage, including as regional head for GE Capital in Asia.OFX has reported a decline in net profit at each of its last three financial results and a trading update yesterday points to more of the same.The firm said it expected a net profit for the year to March 2017 of "at least A$19 million", or $2 million less than in 2016.Fee and commission income, it said, would be down $3 milllion, due in part to a "decline in average transaction values" on sterling transactions, which it blamed on Brexit."Client additions" in Australia were also "below expectations."Cost cuts are not planned, however, with OFC planning for a recovery in FX volume.