IG Group, Europe’s largest online trading platform, has onboarded FX industry veteran Max Hayden to the role of its Global Head of Institutional Sales with a focus on the UK, Switzerland, the Middle East and North Africa (MENA), and Asia-Pacific. He joins the FCA-regulated broker with immediate effect, based out of its offices in London and will report to Fouad Bajjali, CEO of IG Bank SA.
Most recently, Hayden served as CEO of multi-asset brokerage and Fintech provider ITI Capital for nearly two years. ITI Capital is the UK subsidiary of ITI Group, which in 2018 acquired a 100 percent stake in the brokerage group Walbrook Capital Markets. He parted ways with the FCA-regulated firm in May 2019.
The move to hire Hayden is clearly intended to boost bottom-line sales and expand the reach of IG Group operations in the prime brokerage field. The UK spread better targets mid-sized hedge funds and family offices with a dedicated institutional offering that IG expects to yield a potential market opportunity of around £500 million.
A lengthy career in PB sector
Prior to ITI Capital, Hayden worked as head of prime brokerage at Russian-based broker BCS Financial Group. However, his experience in the financial industry extends further back, from his time at Bank of America Merrill Lynch, where he held a similar role for more than six years, dating back to 2006.
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Hayden’s background in financial markets had originally begun in 1987 when he was working for Scott Goff Layton, involved in Floor Brokered Options Trading.
The experience he accrued during his nearly three decades stint in the prime brokerage field likely influenced IG’s decision to hire him to guide its institutional sales department. Britain’s biggest player in the spread betting sector, which has a 40 percent share of the market, has undergone several management changes over the last few months.
Announcing the appointment, Fouad Bajjali, CEO of IG Bank SA and head institutional business, said: “Max has a proven track record of client focus and helping to develop businesses. His appointment demonstrates our clear commitment to grow and build our institutional business, which is a key growth opportunity within IG’s wider strategy of achieving a 30% increase in revenue by FY22.”
“I am delighted to join IG Group, which has such a strong brand and reputation and a clear focus on growing its offering for institutional clients. I look forward to building relationships and providing new opportunities for new and existing institutional clients,” added Max Hayden.