Damian McDowell has stepped down from the function of Chief Government Officer at Union Commonplace Worldwide Group Restricted, the FCA-regulated arm of the USG Group (beforehand often called USGFX).
In response to a Corporations Home submitting, McDowell’s appointment as a Director of the United Kingdom-based firm ended on Wednesday. It means he’ll now not stay within the apex administration function of the corporate.
McDowell joined the London-based arm of the brokerage group in July 2021 after Simon Quirke exited the corporate. The choice behind McDowell’s resignation from the function will not be recognized. Now the corporate has solely Soe Hein Minn as the only Director.
Minn, a Burmese citizen, is the controlling shareholder of the brokerage group. He was ousted from the Board of the London arm of the dealer in October 2020 however rejoined final 12 months in July.
A Controversial Dealer
Beforehand headquartered in Australia and often called USGFX, the dealer made headlines as its Aussie operations went into voluntary administration in July 2020. That adopted the suspension and cancellation of its Australia Monetary Providers (AFS) license. The directors additionally blamed Minn for not cooperating with the method and took the corporate into liquidation.
To shed the destructive publicity of the FX and CFDs dealer, it moved its headquarters from Australia to London and rebranded final 12 months.
Other than heading the UK operations of the controversial dealer, McDowell spent three many years within the monetary providers business. Beforehand, he labored at TIOMarket for about 5 years, holding two senior roles: CEO and Compliance Oversight, and Cash Laundering Reporting Officer.
Furthermore, he labored in government roles at KapSecure Asset Administration, Evolution Markets, Schneider Buying and selling Associates, Marex Spectron, ICAP and different monetary providers corporations.
In the meantime, Finance Magnates reported earlier that Union Commonplace Worldwide Group Restricted turned earnings within the fiscal 12 months of 2021 with an annual turnover of £1.27 million.
Damian McDowell has stepped down from the function of Chief Government Officer at Union Commonplace Worldwide Group Restricted, the FCA-regulated arm of the USG Group (beforehand often called USGFX).
In response to a Corporations Home submitting, McDowell’s appointment as a Director of the United Kingdom-based firm ended on Wednesday. It means he’ll now not stay within the apex administration function of the corporate.
McDowell joined the London-based arm of the brokerage group in July 2021 after Simon Quirke exited the corporate. The choice behind McDowell’s resignation from the function will not be recognized. Now the corporate has solely Soe Hein Minn as the only Director.
Minn, a Burmese citizen, is the controlling shareholder of the brokerage group. He was ousted from the Board of the London arm of the dealer in October 2020 however rejoined final 12 months in July.
A Controversial Dealer
Beforehand headquartered in Australia and often called USGFX, the dealer made headlines as its Aussie operations went into voluntary administration in July 2020. That adopted the suspension and cancellation of its Australia Monetary Providers (AFS) license. The directors additionally blamed Minn for not cooperating with the method and took the corporate into liquidation.
To shed the destructive publicity of the FX and CFDs dealer, it moved its headquarters from Australia to London and rebranded final 12 months.
Other than heading the UK operations of the controversial dealer, McDowell spent three many years within the monetary providers business. Beforehand, he labored at TIOMarket for about 5 years, holding two senior roles: CEO and Compliance Oversight, and Cash Laundering Reporting Officer.
Furthermore, he labored in government roles at KapSecure Asset Administration, Evolution Markets, Schneider Buying and selling Associates, Marex Spectron, ICAP and different monetary providers corporations.
In the meantime, Finance Magnates reported earlier that Union Commonplace Worldwide Group Restricted turned earnings within the fiscal 12 months of 2021 with an annual turnover of £1.27 million.
