iFOREX Appoints Daniel Shalom as COO

iFOREX appointed Daniel Shalom as chief operating officer. He assumes responsibility for business operations, customer experience, product, and technology with immediate effect. iFOREX has previously emphasized this strategy, including bringing back a head of innovation last year to oversee AI initiatives shortly after launching its AI-powered trading recommendation service, Pulse.

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Shalom joins from Yad Vashem, Israel’s World Holocaust Remembrance Center, where he served as chief information officer and led a technology overhaul that included a six-petabyte data environment. Prior to that, he spent eight years at Amdocs, a software and services provider to telecom, media, and financial services firms, most recently as vice president of data and AI, where he led a 500-person team.

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BitGo names Angela Ang APAC, Singapore Head

In the crypto space, BitGo appointed Angela Ang as managing director for Asia-Pacific and president of BitGo Singapore. The company said she assumes the role after meeting regulatory and fit-and-proper requirements. Ang joins from TRM Labs, where she served as head of APAC public policy and strategic partnerships and was part of the firm’s founding regional team.

Ang previously spent more than a decade at the Monetary Authority of Singapore, where she helped develop the country’s payments and crypto licensing framework. She led the team that operationalized the licensing regime under which BitGo’s local unit is authorized as a Major Payment Institution.

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CME CEO Terry Duffy to step down

At the same time, CME announced that Chief Executive Officer Terry Duffy will step down in March next year, ending more than two decades leading the derivatives exchange operator. The firm said Duffy will transition to Executive Chairman, while current President and Chief Financial Officer Lynne Fitzpatrick will become CEO and join the board.

Duffy has led CME Group since 2002, when he became Chairman, and took on the CEO role in 2016. During his tenure, he oversaw the shift from floor-based trading to electronic markets and led major acquisitions, including the Chicago Board of Trade in 2007 and the New York Mercantile Exchange in 2008.

Discover more about CME CEO plans to step down from his role.

HFM names Jean Nahas UAE head

HFM brought Jean Nahas as Head of Category in the UAE, where he will lead the company’s newly established licensed entity and head its Dubai office. The appointment brings in a senior executive with experience across FX, CFDs, and financial services, as brokers continue to expand their regulated presence in the region.

In his role, Nahas will be responsible for driving business growth, ensuring compliance with local requirements, and strengthening HFM’s footprint in the Middle East. Before joining HFM, he worked as an independent strategic advisor and board member for firms in brokerage, fintech, and financial services.

He also co-founded 357 Group and served as Group Chief Operating Officer at Zarvista Capital Markets between 2023 and 2025.

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Kraken EU taps CFD veteran as Head

Kraken has promoted Stavros Vassiliades to Chief Operating Officer and Executive Director of its European Union business, placing him in charge of its regulated EU arm. Vassiliades joined the crypto exchange last year from Pepperstone EU, the Cyprus-licensed unit of the Australian CFD broker. His background is rooted in retail brokerage rather than crypto.

Before spending three years as executive director at Pepperstone EU, he was head of compliance at MPS Marketplace Securities and worked as an operations and compliance manager at MAP Fintech. The appointment continues a pattern at Kraken, which began offering crypto derivatives in Europe under a Cyprus license.

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CLS names six directors as cyber focus grows

CLS, the financial market infrastructure group that operates the largest payment-versus-payment settlement system for foreign exchange, has appointed six new members to its board of directors.

The new directors are James Hardy (independent), Richard James of Deutsche Bank, Sandra Laielli van Scherpenzeel of UBS Switzerland AG, Matthieu Mercier of BNP Paribas CIB, Chadwick Renfro (independent), and Boyd Winston of JPMorgan Chase Bank.

Following the appointments, the CLS board now has 21 directors, including eight independent members. Chairman Gottfried Leibbrandt said the additions bring expertise that supports the company’s risk agenda.

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TenTrade hires partner, CRO and CSO from INGOT Brokers

Elsewhere, Andreas Andreou took on a new role as Partner and Chief Revenue Officer at TenTrade, a global multi-asset broker that also operates a funded trading programme. The firm also appointed Marios Morfakis as Chief Sales Officer. Before joining TenTrade, Andreou held senior roles at several retail FX and CFD firms, primarily in Dubai.

Most recently, he served as Chief Sales Officer at INGOT Brokers up to June 2026. TenTrade has also recently appointed former Portugal footballer Luis Figo as its global ambassador as part of a campaign titled “Inspiring the Next Number 10.”

Read more about the latest executive changes at TenTrade.

Georgios Papassavas becomes HFM CEO

Lastly, Georgios Papassavas became CEO of HFM in February, following nearly a decade at the Larnaca-based broker. He previously served as Chief Information Officer, where he oversaw the company’s technology infrastructure.

Papassavas began his career in software development at Amdocs in 2008 and later led financial software teams at FxPro. HFM, formerly known as HotForex, rebranded in 2022 as part of a shift toward a broader multi-asset offering beyond traditional currency trading.

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