CMC Markets, IG, oneZero, and More: Executive Moves of the Week

Head of CMC Markets Middle East departs

Among key executive moves this week, Richard Elston left CMC Markets after more than ten years with the company. He initially joined to lead CMC’s institutional business, which launched in 2016 following his appointment.

Elston served as Head of CMC’s Institutional team and the Connect brand starting in July 2015. In early 2025, he transitioned to Dubai to lead CMC Markets’ Middle East operations based in the DIFC, a role he held until his departure.

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Learn more about the exit of Richard Elston from CMC Markets.

IG Group names new CEO for North America

At the same time, IG Group appointed Michael Vaughan as Chief Executive Officer of its North American division. Vaughan brings over 30 years of experience in the technology and fintech sectors, including operational leadership and advisory roles.

He previously served as Chief Operating Officer at Venmo, a PayPal-owned fintech, and has significant expertise in scaling digital financial platforms.

Show more about IG Group’s appointment of Michael Vaughan as CEO for North America.

OneZero hires ex-Saxo exec as director

oneZero Financial Systems enlisted Asiff Hirji to its board of directors. Hirji previously served as president and chief operating officer at Coinbase from 2017 to 2019.

His extensive experience also includes leading TD Ameritrade as president from 2003 to 2007 during a significant growth phase, and chairing the board at Saxo Bank, a European online trading platform, from 2014 to 2015.

Display more about oneZero's addition of Asiff Hirji to its board of directors.

Finalto taps ex-CMC Markets’ exec as UK/EU liquidity head

Elsewhere, Sam Horowitz has joined Finalto as the UK and EU Head of Liquidity, where he will manage liquidity operations across the region. He brings extensive experience from senior FX roles at firms including CMC Markets, BBVA, Marex, Lloyds, and Louis Capital.

Horowitz most recently served as Head of Treasury at Rafiki (by Nala) from March to September 2025, leading treasury and trading functions for fintech businesses backed by Accel and Y-Combinator.

Disclose more about Finalto's enlisting of ex-CMC Markets’ exec as UK/EU liquidity head.

Former Nomura Exec joins SmartMoney as COO

Ian Daniels has been appointed Chief Operating Officer and Global Head of eFX at London-based FX broker SmartMoney. SmartMoney provides trading services with API or GUI access and emphasizes low-latency trading.

Daniels recently moved to SmartMoney from BGC and has been serving as an Executive Committee Member at the ACI UK Financial Markets Association since November 2022.

Highlight more about the transition of Ian Daniels as the Chief Operating Officer and Global Head of eFX at SmartMoney.

ActivTrades names new CMO and CCO

In the UK, CFD broker ActivTrades announced two executive promotions within its senior leadership team. Danislav Gurbalov, who joined the firm in 2022 and was most recently Head of Marketing Operations, was promoted to Chief Marketing Officer.

Nedko Geshev, who has worked at the firm for over three years, was elevated to Chief Communications Officer. Both promotions reflect the company’s strategy of elevating long-standing team members to key leadership roles.

Find out more about the new leadership changes at ActivTrades.

GTC Group names new VP of Institutional

Also this week, GTC Group named Alexandros Patsalides as Vice President of Institutional. In this role, he will primarily focus on GTC Prime, the Group’s institutional trading division.

Patsalides will work closely with the Group’s C-suite executives to support the ongoing expansion of operations and the adoption of new technology solutions across GTC Group’s retail and institutional businesses.

Display more about GTC Group's naming of Alexandros Patsalides as Vice President of Institutional.

EC Markets hires two execs from Doo Group

Brokers are also competing within the industry for top talent. EC Markets has appointed Omar Qumuq as its new Managing Director, and Qumuq will be based in the company’s Dubai office.

In addition, EC Markets named Rohan Kumar as its Sales Director. Kumar, formerly Sales Manager at Doo Prime, has held senior roles including Senior Business Development Manager at STARTRADER and Senior Account Manager at EXANTE.

Learn more about the new appointments at EC Markets from Doo Group.

Ex-Saxo Bank, CBOE Director joins GCEX

Lastly, GCEX appointed Steve Thomas, a seasoned foreign exchange and digital asset executive, to expand its UK and European institutional sales operations amid growing demand for crypto trading services.

Thomas joins the digital prime brokerage firm from Laser Digital, where he spent two years in FICC sales and distribution. With over 25 years of experience, Thomas’s background includes senior roles at Menai Financial Group, CBOE Global Markets, Hotspot FX, and Saxo Bank.

Find out more about GCEX's appointment of Steve Thomas to drive institutional growth.

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