Alpari UK reported that it has selected Jacob Platter as its new Chief Operating Office (COO), who will be based in London. The move is subject to regulatory approval by the UK’s financial watchdog.

After disappointing annual results, Alpari UK continues to strengthen its core management team with the announcement of its new COO.

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Jacob Plattner is the latest staff member to be promoted to the firm’s Board. Mr. Plattner will be responsible for the Trading, Risk Management and Market Analysis teams and reporting to the Chief Executive Officer.

Mr. Plattner joins Alpari UK from Alpari US. According to his LinkedIn profile, he was the former VP Institutional Sales and Head of Alpari Boston, he joined the firm in July 2010. During 2010, a number of key individuals joined Alpari UK, including former UK CEO, Daniel Skowronski.

Jacob Plattner commented about his new role in a company statement: “I am extremely honoured to move into the COO role and am excited to start working with the Board and my teams in particular. Having worked within the Alpari companies for almost four years, I have a strong understanding of what our clients expect and what they need from us as a company. I look forward to bringing this knowledge to Alpari UK to further strengthen our position in the market place.”

Alpari UK has witnessed a number of management changes at the Board level; these include the firm’s former Chief Marketing Officer, David Hodge, who joined the firm from rival IG, he took over from Daniel Skowronski in November 2013 as CEO.

Before taking charge as CEO, Mr. Hodge took over the firm’s operations and was designated as COO earlier in 2013.

David Hodge commented on the appointment: “I’m thrilled that Jacob is joining the Board. He has a wealth of experience in the sector and will add significant value to our Trading, Risk Management and Market Analysis teams.”

Mr. Plattner becomes the seventh director of Alpari UK; he accompanies Mr. Vedikhin, Mr. Hodge, Mr. Khafizov, Mr. Tovmasyan, Ms Patel and Mr. Stylianou. In its annual filing, the firm states the reasons behind the enhancement of its Board: “To have a more balanced Board with greater financial and regulatory weighting.”

Like several firms operating in the congested margin FX environment, Alpari UK suffered a financial loss in 2013, although trading volumes were significantly higher than figures reported a year earlier.