Exclusive: Colmex Israel VP Sales Steps Down

Colmex Israel acquired three of its local competitors over the past year.

Elad Rosenblum, VP Sales at Colmex Israel, has stepped down 10 months after he took on the role, Finance Magnates has learned. Colmex Israel is one of the six local brokers authorized by the Israeli Security Authority to offer forex and CFDs trading.

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According to his Linkedin profile, Mr Rosenblum joined Colmex almost three years ago as a Retention Account Manager. Two years later he was promoted to Chief Sales Manager. He held this role for two and a half years before stepping into the role of VP Sales in October 2016. Before joining Colmex, Rosenblum was a Sales and Relationship Manager for FX-Broker for three years.

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Elad Rosenblum commented: “I worked at Colmex for more than four years, during which I was given the opportunity to be involved with product development, market trading, mergers and acquisitions, and more. I thank Colmex for investing in me and I wish them every success for the future.”

Since getting its license late 2016, Colmex has made a few strategic business moves that have made it the biggest forex and CFD broker in terms of local clients. In March, Colmex Israel completed its third competitor acquisition in the market, buying up the last forex broker still in the middle of the licensing process – Protrade Solutions LTD.

This followed the acquisition of the client list of Israeli forex broker Smart-Capital, which was in the midst of its own licensing process in June 2016, and then the Matach24 acquisition in December of 2016.

Colmex Israel declined to comment on the story.

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