Exclusive: CMC Markets’ Head of APAC & Canada Matthew Lewis to Separate after Two Decades

Matthew Lewis, CMC Markets’ Head of Asia Pacific and Canada, is separating from the broker, Finance Magnates has learned. He was also on the broker’s board of directors, but ended that role in the middle of last year.

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The End of a Long Tenure

According to his LinkedIn profile, Sydney-based Lewis has been heading the APAC and Canada business of the London-listed broker for the past 13 years. He, however, joined the broker in late 2005 and spent more than two decades with the broker.

It remains unclear who would replace Lewis at CMC as the new Head of Asia Pacific and Canada. Furthermore, his next move also remains unknown.

Finance Magnates reached out to Lewism but has not received any response as of press time, while CMC Markets declined to comment on "individual employment matters."

CMC’s Growing Business in APAC

The exit came when CMC positioned itself as one of the top brokers in Australia. Its dominance in the country came from its white-label institutional deals with Westpac and ANZ. In the region, the broker also has a similar deal with ASB Bank, New Zealand’s second-largest bank, with about 150,000 share trading customers.

CMC’s Aussie business alone contributed £115.2 million to the broker’s overall revenue last fiscal year, a 5.5 per cent increase. It is only behind the UK, which brought in about £133.4 million.

“The Australian stockbroking business secured what I believe to be our most significant B2B partnership to date,” CMC’s founder and CEO, Peter Cruddas, wrote in the company’s latest preliminary financial filings.

Cruddas is also the headline speaker at the upcoming FMLS:26.

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The broker also plans to launch its securities insurance business (warrants and certificates) next year, a product already offered in Europe.

CMC Markets, meanwhile, is also entering the prop trading market and is expected to launch the services on October 1.