London Capital Group (LCG) has found its new Chief Executive Officer (CEO) for its Cyprus operations, with Eliza Eliadou, the firm’s current Chief Compliance Officer (CCO) set to take on the role, a source close to the matter told Finance Magnates.
LCG announced the move internally today. Eliadou will be replacing Panayiotis Annivas, who assumed the role of CEO in October, his Linkedin states. He, in turn, replaced Andreas Kontos, who resigned from LCG’s Cypriot subsidiary as CEO and Group Chief Operating Officer (COO) in October, as Finance Magnates reported exclusively. His departure followed two years of solid financial performance for the Group.
Finance Magnates reached out to LCG, who declined to comment on the move, and to Eliadou, who has not responded as of the time of publishing. This promotion for Eliadou comes after less than two years of working for the broker, originally joining the firm as CCO in April 2017.
LCG is a contract for difference (CFD) and online trading provider, offering financial instruments for investment such as foreign exchange (forex), shares, commodities, metals and more.
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LCG on the road to recovery
As we previously reported, LCG started 2018 on strong footing, with the broker recording revenue of £18.6 million ($24.1 million), an increase of 54 percent from the same period in 2017, which had a revenue of £12 million.
Gross profit was also up by 26 percent year-on-year, a welcome result for the firm, which reported a statutory loss of £3 million in 2017, although this was down from 2016’s loss of £7.7 million.
Prior to working with the broker, Eliadou spent six years at easyMarkets, a CFD and forex broker. Here she was most recently the Head of Compliance until October 2016 after she was promoted from her role as Junior compliance officer in July 2013.
During her career, she has also held consultant and legal-based roles at Andreas Neocleous & Co LLC, TORNARITIS LAW FIRM and MAP.S PLATIS, where she was most recently employed before joining LCG.