Tickmill has made a significant change in its top management by promoting Nicholas Baumer to the Chief Commercial Officer from his previous role as Chief Marketing Officer. The brokerage is now looking for a new CMO to take over Baumer's previous responsibilities.

An Experienced Brokerage Executive

According to Baumer's LinkedIn profile, he has already assumed the role of CCO. He joined the Cyprus offices of the forex and contracts for differences (CFDs) broker in November 2020 as the CMO, replacing Marilena Iakovou.

Baumer is an expert marketer with experience working with other FX and CFD broker brands. Before joining Tickmill, he spent about five years with BDSwiss. He joined the broker's Cyprus offices as a TV and Print Media Buyer and was then promoted to Head of Acquisitions. During his tenure, he was the Marketing Director at BDSwiss.

The Hunt for a New CMO

Tickmill is a broad retail brokerage brand whose services are extended globally. The brand operates with locally regulated entities in the UK, the UAE, Cyprus, South Africa, Seychelles, and Malaysia.

The revenue of the UK entity of the brokerage group declined 19.5 percent to £6.18 million in 2022, Finance Magnates reported earlier. The drop in annual revenue also halved the entity's profits. Meanwhile, the broker recently announced that it would distribute up to 3.5 percent interest to its clients on their unused funds.

Tickmill has already advertised the hiring of a new CMO earlier this month. As mentioned in the job description, the role will be based in the Limassol office.

“As a Chief Marketing Officer in our dynamic team, you will play a vital role in setting, planning and implementing the global marketing and brand strategy,” the description of the role detailed. “In addition, you will be responsible for the annual marketing budget, monitor the performance, and embrace a data-driven marketing approach to make valuable decisions.”