Finalto's Group CEO Matthew Maloney Steps Down

Finalto, owned by Hong Kong-based Gopher Investments, is parting ways with Matthew Maloney, who is stepping down as its Group Chief Executive Officer. The reason for his departure remains unknown. Finance Magnates reached out to Finalto and Maloney over the past two days with solid information about the CEO’s departure, but the firm chose to address the comment request through a public post on its website.

Change in Finalto’s Management after Gopher’s Takeover

In a post on their website, Finalto stated, “After ten years with the company, Matthew has chosen to move on to a new phase in his career, concluding a long tenure that has shaped various aspects of the organisation. We extend our best wishes to Matthew in his future endeavours.”

Paul Groves, CEO of Finalto Financial Services, said: “As Matthew moves forward, we recognise the role he has played in developing the company. While he will no longer be part of the leadership team, his contributions remain part of Finalto’s history as we continue to focus on innovation and growth.”

Maloney took over the top role overseeing every entity under the Finalto Group’s umbrella in late 2022. Before becoming Group CEO, he was the Chief Executive at Finalto’s two UK entities, Finalto Financial Services and Finalto Trading.

His appointment as Group CEO was one of the first management changes made by Gopher, which acquired Finalto from Playtech in a $250 million cash deal. Maloney replaced Ron Hoffman, who stepped down following the Gopher takeover of the financial services giant. Another long-time employee, Liron Greenbaum, who was Finalto’s Group Chief Operating Officer, also departed at the same time.

Finalto, formerly TradeTech Group, offers both B2B and B2C products and solutions. While it provides B2B services under the Finalto brand, its retail services operate under the Markets.com brand, a contracts for differences (CFDs) broker.

The group has entities based in the United Kingdom, Cyprus, Australia, South Africa, Singapore, and the British Virgin Islands.

An Industry Veteran

Meanwhile, Maloney is a financial industry veteran with about three decades of experience. He was previously the CEO of CFH Clearing Limited, a liquidity provider, before it was integrated into the Finalto brand. He has also worked for top financial organisations, including TTT Moneycorp, FTSE International, the London Stock Exchange, and PricewaterhouseCoopers.

Finance Magnates earlier reported that the two UK-registered entities of the Finalto Group, Finalto Trading Limited (previously Tradetech Alpha Limited) and Finalto Financial Services Limited (formerly CFH Clearing Limited), ended 2023 with a combined turnover of more than $74.1 million, a decline of about 7.9 per cent. However, combined profits soared to $13 million from 2022’s $6 million, marking a year-on-year increase of 116 per cent.

Meanwhile, Finalto Trading is migrating its clients to its sister entity, Finalto Financial Services.