After nearly two years as the Managing Director of European fintech BUX, Jean-Raphael Nahas announced that he has joined the retail broker, Zara FX team as the new Group Chief Operating Officer (COO). This marks another significant move for the company, following the appointment of a new Chief Financial Officer (CFO) last week.

Nahas Moves from BUX to Zara FX

Jean-Raphael Nahas has over a decade of experience in the financial industry, specializing in Contracts for Difference (CFDs) and foreign exchange (FX). He began his professional career in 2012 as the Head of Business Development at Blackwell Global Investments. Over the years, he has been associated with various firms, including FX88, IMS Markets, and Finteractive, joining the Cypriot branch of BUX as the Managing Director in February 2022.

Over the weekend, Nahas announced his decision to change employers on his LinkedIn profile.

"I want to extend my heartfelt gratitude to Yorick Naeff and Salim Sebbata for their unwavering trust in me to manage the EU CFD business during my tenure. I also want to extend my thanks to all my colleagues at BUX and Stryk by BUX for the incredible journey we've had together," Nahas commented.

Although he initially did not disclose details about his new role, a follow-up update on Monday morning cleared any doubts. He informed the public that he started his new position as the Group COO at Zara FX.

"I’m happy to share that I’m starting a new position as Group Chief Operating Officer at Zara FX," Nahas added.

Another Executive at Zara FX

Zara FX continues to strengthen its executive team with significant hires. Last week, Finance Magnates reported the company's acquisition of Yiannis Argyrou as its new CFO. The firm has emphasized the strategic significance of this move for its growth and market standing in the financial sector.

The statement from Zara FX highlighted Argyrou's extensive experience and proven success in the financial industry, indicating that he is well-equipped for his new role.

The company is optimistic about the positive contributions Argyrou is anticipated to make, particularly in enhancing the firm's financial performance and reputation.

Among other significant personnel moves recently, the talent drain at Binance is worth mentioning. Significant shifts were further announced by LCH Group, Saxo Bank, and IG Group between August and September.