Mihail Petkov, Capital.com’s Head of Back Office, has moved to Admirals as the Head of Client Services and will be based in Limassol, Cyprus, according to an update on his LinkedIn post. At Capital.com, Petkov was tasked with leading and managing Group onboarding and payment teams, among other responsibilities.

Trading 212 and Capital.Com

The industry expert joined the company from StockTech, where he served as the Head of Technical Client Operations. In this role, Petkov managed onboarding and payments. He was also responsible for researching, negotiating, and finalizing internal and third-party features and services.

Besides that, Mihail Petkov worked at the fintech firm focusing on stocks and ETFs Trading 212 for close to seven years. He joined the firm as a Customer Care Specialist and subsequently served as an Onboarding Specialist and Onboarding Supervisor.

Early this year, Admirals Group announced new changes in its leadership. Sergei Bogatenkov, the Chairman of the Board of Management, and Andreas Ioannou, a member of the Board, resigned from the group. Alexander Tsikhilov took over the role of the Chairman of the Board of Management in March.

Other Executive Changes at Admirals Group

Tsikhilov has a wealth of experience in leadership roles, having held various board memberships across various organizations, including the Order of Malta Foundation in Estonia and DVF Group OÜ. Olga Senjuškina and Eduard Kelvet joined the Supervisory Board.

Senjuškina has a wealth of financial experience, having worked at Admirals for nearly ten years, while Kelvet has professional expertise in compliance and administration from Citadele Banka and AS TBB Bank.

Meanwhile, Admirals released its financial results for the first half of 2024, highlighting a surge in trading revenues and positive EBITDA despite low market volatility . The firm’s net trading income jumped 4% to EUR 22.0 million, up from EUR 21.1 million in the same period of 2023.

Additionally, operating expenses dropped 9% to EUR 22.9 million from EUR 25.2 million in the prior year. EBITDA reached EUR 0.4 million, a turnaround from a loss of EUR 2.9 million in the first half of last year. Thus, the group’s net loss rose to EUR 1.2 million from EUR 4.8 million in the previous year.