CMC Markets (LON: CMCX) has named Albert Soleiman as the new Chief Financial Officer in an appointment that came as an internal promotion. He replaced Euan Marshall, who retired from the role and CMC's board but will remain with the Group for the next few months to ensure an orderly transition.

"I am delighted to be taking on the role of CFO [at] CMC and look forward to working with the Group Board to drive the Group's strategy," said Soleiman. "I am excited about playing my part in delivering that strategic vision and enhancing efficiencies within the business."

Promotion of an Experienced CMC Executive

Soleiman spent a significant portion of his career at CMC Markets. He first joined the London-headquartered broker in November 2005 as a Tax Manager for Asia Pacific and became the Group Head of Tax in 2008. He also assumed the role of Head of Client Asset Management at CMC but separated from the broker in November 2019 after working there for 14 years.

He rejoined CMC Markets in mid-2020 as the Group Head of Corporate Development. He additionally led the launch of the CMC Invest business, becoming the Head of CMC Invest UK.

Between his two tenures at CMC, he was the Global Tax Director at Bitfury for eight months. Originally, he started his career as a Tax Consultant at KPMG and then as a Senior Tax Advisor at William Buck. He is also a qualified Chartered Accountant.

The Chairman of CMC Markets, James Richards, said: "Albert has a deep knowledge of the Group, which will support the execution of our diversification strategy. We have worked closely with Albert as he has developed the CMC Invest business, and I look forward to working with him as a Board member."

CMC's Shares Are Struggling

Soleiman appointment came when publicly-listed CMC Markets were struggling after the broker slashed its income outlook. As Finance Magnates reported earlier, it expects a net operating income between £250 million and £280 million for the fiscal year 2024.