Multi-asset provider AvaTrade has continued adding to its retail operations in Spain in 2017, appointing Cabrini Redmond as its newest Managing Director. She steps into the role with immediate effect and is based out of AvaTrade’s Barcelona office, Finance Magnates has learned.
Earlier this month, AvaTrade strengthened its Iberian personnel by on-boarding Mayra Pinzón as its Head of Business Development, also in the group’s Barcelona office. Marco F. Da Costa joined AvaTrade’s Portuguese office in Lisbon as a Senior Global Account Manager.
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The added personnel in Spain come during a shifting of regulations for foreign exchange and contracts-for-difference (CFDs) products in the country in 2017. While the retail trading industry in Spain is quite underdeveloped, there remains major potential for growth, citing a recently released Investment Trends report.
With FX and CFD activity up 13.0 percent on a yearly basis in Spain, AvaTrade seems to be betting on continued growth in the country to justify added personal and an expansion of its retail operations domestically.
Ms. Redmond is no stranger to the financial services industry, having worked previously at a number of other venues in Spain for the past eight years. Prior to joining AvaTrade, she founded KNG Markets earlier this year, focusing on retail FX and CFDs.
Additional roles include stints as an Executive Director and Partner at LVM Holdings, and other roles extending back to 2009, according to information made public on her Linkedin profile.