Edgewater Markets, the NFA-registered non-bank FX liquidity provider, has appointed FX veteran Sal Provenzano to be the firm’s new Managing Director of eFX Sales.
Provenzano joins the NY-based based company from GTX, an institutional foreign exchange trading platform. During his four-year tenure, Provenzano was responsible for GTX’s institutional sales with a focus on the group’s US clientele, based out of New York. His leave marks another senior staff departures to be announced since 360T agreed on a deal last year to buy GTX.
Prior to landing at GAIN GTX, Provenzano worked at Velocity Trade as its Head of Institutional FX since April 2013. Additionally, he also held senior-level roles at Prudential Bache/Jeffries Bache as its Global Head of FX Prime Brokerage, ABN AMRO Bank as its Director and Head of FXPB Sales, and MW Marshall Group as its Managing Director and Head of Foreign Exchange Brokerage.
Edgewater expects Provenzano’s industry experience, which dates back to 1981, and deep relationships to strengthen its global sales capabilities as it looks to expand its reach and continue to build market share.
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Edgewater Expands EFX offering
Edgewater has recently allowed European clients to leverage its foreign exchange offering that covers a wide range of Latin American non-deliverable currencies. The development gives Edgewater’s FX community in other regions more access to emerging markets while bringing greater efficiency and reduced operational complexity.
The electronic FX liquidity and distribution specialist says that the step helps meet the needs of its corporate and institutional clients, including local banks, pension funds, hedge funds, brokers and end users, for hedging and execution of real Latin American FX and non-deliverable forwards business.
Commenting on his appointment, Provenzano said: “I am looking forward to joining Edgewater Markets’ team and the opportunity to contribute to the overall growth of the company. Based on the focus and diversification of proprietary product offerings, the rapidly expanding global footprint, and the customized end user trading solutions being offered to institutional clients, Edgewater’s service offering is very compelling.”
“We are extremely excited to have Sal join Edgewater’s team. The depth of his knowledge and extensive forex industry experience will allow us to further strengthen and expand our offering in the sector. This continued hiring expansion allows us to leverage the tremendous growth and success we continue to experience” added Skovran Schreder, co-founder and CEO of Edgewater Markets.