Exinity, which operates brands like Alpari and FXTM, has onboarded Punit Ghumra as the new Group Chief Financial Officer. Based in Dubai, Ghumra is an outsider to the forex and contracts for differences (CFDs) industry.

“I’m looking forward to contributing to the company’s vision and working with an incredibly talented team to achieve new heights,” Ghumra wrote in a LinkedIn post while announcing his new appointment. He has already joined the new role.

An Interesting Appointment

Ghumra joined Exinity from Dubai-based Hubpay, a cross-border payments company focusing on small and medium enterprises, where he was the Vice President of Finance between June 2019 and May 2024. He was also associated with the COO Network (Middle East).

According to his LinkedIn profile, he started his professional career in 2010 at the Royal Bank of Scotland but, after a short stint of three months, moved to Gordian Knot as a Financial Controller, where he spent five years of his career. Then, he joined Millennium Global Investments, a London-based currency hedge fund, as the Head of Finance and then moved to GP Bullhound as the Vice President - Group Finance.

Operator of Popular FX and CFDs Brands

The Exinity brand is a part of Andrey Dashin’s larger FX and CFDs empire, which includes names like Alpari and FXTM. Over the years, the Exinity brand has been expanding: apart from its presence in established markets, it is one of the few brokers to hold a license in Kenya. Interestingly, the Cyprus unit of Exinity renounced its operational license recently.

Last year, Exinity onboarded Matthew Wright as the Group Chief Operating Officer. Unlike Ghumra, Wright brought significant industry-relevant experience from companies like Zenfinex, Capital Index and a few others.

Interestingly, Exinity is also expanding its business verticals as it entered the institutional side. It launched liquidity services last year under the UK and Mauritius licenses, aiming at broker-dealers, family offices, and hedge funds.