Sofian Berrahal, Dukascopy Bank’s former Head of Sales, is the new CEO of Nexpay, a payment infrastructure provider for digital companies. This change in the company’s top leadership followed Uldis Tēraudkalns's departure from his role as CEO on June 1.

Nexpay's Leadership Transition

Nexpay mentioned in a LinkedIn post: "We would like to announce important changes in the management of the company that took place on June 1st, 2024: after six years of relentless building, Uldis Tēraudkalns has decided to step down and pursue other opportunities, while our own Sofian Berrahal took over the lead from Uldis and became the new CEO of Nexpay."

Berrahal has been at the helm of Nexpay since late 2022. He has extensive experience in the banking sector and has been with the company for close to three years, rising through the ranks from Chief Business Officer to member of the Management Board and now Chief Executive Officer.

Speaking about the new changes, Tēraudkalns mentioned: "Sofian has been a key management team member since joining Nexpay at the end of 2022 and is very well equipped for this role using his experience accumulated during his managerial tenure at Nexpay as well as from his prior career in banking. I would like to thank our team, clients, partners, shareholders, regulators and all other stakeholders that helped me along the way and wish Nexpay to reach new highs in the next chapter."

Experienced Executive

Prior to joining Nexpay, Berrahal was the Chief Executive Officer of Nexdesk. At Dukascopy, he held several roles, including the Head of Asia Business Development, Research Monitoring Brokerage Officer, and Account Manager.

Meanwhile, Dukascopy recently integrated MetaTrader 5 (MT5) into its suite of trading platforms. This move followed the completion of testing and seeks to enable clients to access better trading services. With this offering, the Swiss online trading platform aims to boost user trading experience with analytical tools, technical indicators, and a range of trading activities.

In April, the company released its financial results, highlighting a net profit of CHF 1.3 million. According to the company, the positive financial performance was accomplished despite unfavorable changes in the market environment. The report highlighted that the cost-to-income ratio increased to 89.2% compared to 71.3% the previous year.