London-based prime of prime brokerage GCM Prime Ltd has continued attracting top-tier talent with the appointment of Levy Benarroch as its newest Chief Operating Officer (COO), per its most recent filing with Companies House. However, according to information made public on Levy’s Linkedin profile, the appointment dates back to October 2016.
Prior to joining GCM, Mr. Benarroch held a number of senior positions at many financial service groups, most recently at Capital Market Services UK Ltd as its Compliance Officer. Additionally, he has served at many other firms, including Finotec Trading Uk Limited where he worked as its COO for more than three years.
GCM Prime is a UK regulated broker that provides an end-to-end solution for brokers including white label trading platforms, back office solutions, and access to liquidity from a variety of trading venues.
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The company is headed by longtime FXCM executive Adam Toro and actively started operations only last year. GCM Prime’s business model is based on execution only, yielding the company £1.5 million of revenue between April and December last year.
Back in September 2016, GCM Prime acquired the institutional client book of CMS UK. The book was primarily composed of brokerage companies. According to the official annual report, the bulk of the company’s business is driven by organic growth.