Capital.com introduced right this moment (Wednesday) the stepping down of Kypros Zoumidou from the function of International Group CEO after holding the place for a couple of 12 months. Nonetheless, the dealer is just not changing Zoumidou with one other particular person however has determined to observe a regional management mannequin and has promoted Christoforos Soutzis because the CEO of the Cyprus entity.
Different regional heads of the dealer embody Rupert Osborne, CEO of the UK unit; Tarik Chebib, who leads the Dubai-based MENA subsidiary; and Campbell MacPherson, CEO of the Australian entity.
Capital.com additionally clarified that Zoumidou will stay part of the enterprise and help with strategic tasks. Moreover, he’ll help the brand new administration in settling into their roles, making certain continued success in future initiatives.
Following a Regional Management Technique
Just like the opposite regional leaders, Soutzis’ appointment additionally got here by means of an inner promotion. Earlier than turning into the CEO of Capital.com Europe, he was the Head of Operations and Govt Director.
He has spent practically eight years with Capital.com, first becoming a member of the dealer’s Cyprus workplace in late 2016 because the Head of Threat Administration. He was later promoted to Group Chief Threat Officer. Earlier than Capital.com, he labored for about three years at IronFX in a number of roles.
In his new function, he can be liable for the strategic route of the dealer’s European enterprise and can oversee day-to-day operations.
Strengthening the Administration Group
The affirmation of Zoumidou’s departure and Soutzis’ promotion got here solely a day after Salim Sebbata joined the dealer because the Head of M&A and Company Growth. Sebbata was most just lately the CEO and Managing Director of the UK unit of BUX, which was bought to APM Capital Markets.
In the meantime, shopper buying and selling quantity on Capital.com surged to over $450 billion in Q3 2024, a 20 per cent enhance over the earlier quarter. In Q1, buying and selling quantity on the platform reached $337 billion, bringing the nine-month whole to over $1.2 trillion, surpassing final 12 months’s full whole.
Moreover, the dealer just lately revealed to Finance Magnates that “income development is within the triple-digit million vary and registered accounts are within the hundreds of thousands” for the primary half of 2024. It now plans to double its engineering crew.
This text was written by Arnab Shome at www.financemagnates.com.
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