Amana Financial Services UK, the British subsidiary of Amana Capital, announced today that Adam Toro has stepped down from his position as Chief Executive Officer and as a Director. The broker told Finance Magnates that Toro’s departure was the result of a “mutual amicable agreement.”
Speaking to Finance Magnates Toro said: “It was a valuable experience to work with Amana during an important period of transformation and help them develop their business. We have taken the mutual decision to part ways and I look forward to new opportunities. I wish them all the best in their future endeavours.”
Toro also revealed that he is still not sure what his next move will be. He has served as the CEO for the British firm since November last year and, according to his LinkedIn, has been head of the UK division since October 2017.
Before joining Amana, Toro was the CEO of GCM Prime Ltd, the embattled broker which ceased trading after recording losses of over £3 million ($3.87 million). Here, he worked from October 2018 until October 2017 in the United Kingdom.
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Prior to GCM Prime, Toro was the Vice President of Institutional Sales and Business Development at Forex Capital Markets, a provider of online forex trading, CFD trading, spread betting, and other related services. At Forex Capital Markets (FXCM), Toro had an impressive 12-year career which saw him gain the majority of his experience in the forex industry, his LinkedIn states.
Toro is an Angel investor at two organizations – MPOWER Financing and Stride Travel. Through MPOWER, Toro helps to finance high-potential domestic and international students at US campuses. Stride travel, allows individuals from all backgrounds to travel the world.
Between 2000 and 2003 Toro attended the University of Pennsylvania. Here he studied a Bachelor of Arts, Economics and International Relations with Honours. He graduated with a Dual Major in Economics and International Relations.
Adam Toro Departs from Amana Capital during a Time of Growth
The departure of Toro comes at a time when Amana is expanding its product offering. Earlier this month, Finance Magnates reported exclusively that the company had launched its institutional product AmanaPRO. The product was designed to expand the firm’s product portfolio and marked the group’s first step into the institutional space.