The Cypriot subsidiary of Australian group FP Markets has appointed Amy Pepper as General Manager of the company. The news becomes public a couple of months after FP Markets committed to the European market with the acquisition of a CySEC brokerage license.
Pepper joins the company after spending almost three years at IC Markets and almost eight years at FxPro before that. Her valuable experience in the industry makes her appointment as General Manager of FP Markets Cyprus a significant development for the firm at a crucial time.
While European brokers have been struggling over the past year, Australian firms were actively onboarding more and more clients globally. The relatively liberal leverage policy on the part of the ASIC helped brokerage companies from the land down under, attract a number of new clients from all over the globe.
Regulatory arbitrage opportunities are about to get closed if we are to believe the latest batch of regulatory developments in Australia. That said, the brokerage companies operating in the country have been at a competitive advantage relative to the EU-centric part of the retail brokerage industry.
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In recent months, a number of companies based in Australia have been actively exploring how to increase their presence in Europe.
Commenting to Finance Magnates, the new General Manager of FP Markets in Cyprus stated: “FP Markets has been in business for over 15 years and has a great reputation amongst traders, both in the retail FX and equities communities. Investing heavily in infrastructure, bespoke technologies and user experience has resulted in staggering growth over the last quarter. I am super excited to join the team and be part of the next chapter of FP.”
With some of the fastest-growing Australian companies in the industry acquiring licenses in the EU, their capital expenditure levels globally are increasing. While their EU-based counterparts have been feeling the squeeze over the past year, Aussie firms can afford much more aggressive capital expenditures to expand their market share.
With over ten years of experience in the customer support field, Amy Pepper is sure to be instrumental in the plans of FP Markets to continue the company’s global expansion.