This week, IG Group appointed Michael Vaughan as Chief Executive Officer of its North American division.
EC Markets hired two executives from Doo Group, among other moves.
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.
Richard Elston, Source: LinkedIn
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.
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.
Michael Vaughan, Source LinkedIn
He previously served as Chief Operating Officer at Venmo, a
PayPal-owned fintech, and has significant expertise in scaling digital
financial platforms.
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.
Asiff Hirji
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.
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.
Sam Horowitz, Source: LinkedIn
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.
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.
Ian Daniels
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.
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.
Danislav Gurbalov and Nedko Geshev
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.
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.
Alexandros Patsalides, Source: LinkedIn
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.
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.
Omar Qumuq and Rohan Kumar
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.
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.
Steve Thomas, Source: LinkedIn
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.
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.
Richard Elston, Source: LinkedIn
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.
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.
Michael Vaughan, Source LinkedIn
He previously served as Chief Operating Officer at Venmo, a
PayPal-owned fintech, and has significant expertise in scaling digital
financial platforms.
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.
Asiff Hirji
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.
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.
Sam Horowitz, Source: LinkedIn
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.
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.
Ian Daniels
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.
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.
Danislav Gurbalov and Nedko Geshev
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.
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.
Alexandros Patsalides, Source: LinkedIn
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.
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.
Omar Qumuq and Rohan Kumar
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.
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.
Steve Thomas, Source: LinkedIn
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.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
