IG Promotes Kevin Algeo to Head of Asia Pacific and Africa
- The long-time industry veteran has been with the London-headquartered brokerage since 2013.
Kevin Algeo, Head of IG Group Asia Pacific and Africa
IG Group has promoted its CEO in Australia, Kevin Algeo to Head of Asia Pacific and Africa. The long-time industry veteran has been with the London-headquartered brokerage since 2013.
Algeo started his tenure at IG Group as a Managing Director in South Africa. After spending almost four years in that position, he moved to Australia in February last year.
Starting as Deputy CEO in Melbourne, Algeo got promoted to CEO in June last year. A recent update on his LinkedIn profile shows that his official title is now Head of Asia Pacific and Africa.
Different Subsidiaries
IG Group has been handling different clients across the globe via different regional entities. The company’s core London office used to be the home for global users in most of the cases.
The recent regulatory changes have prompted many companies to rethink their policy when it comes to opening client accounts outside of the EU. The obvious choice for IG Group has been the broker’s Australian office.
The regulatory license issued by the Australian Securities and Investments Commission (ASIC) permits the company to offer higher Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term to its clients in Asia Pacific and from across the globe.
While traditionally FCA-regulated brokers have been onboarding clients from Africa to their UK entities, the evolution of the market has prompted firms to take a different approach.
Regulatory Arbitrage Arbitrage Arbitrage is defined as the practice of taking advantage of a price difference between two or more markets.In particular, this involves the simultaneous buying and selling of securities, currencies, cryptos, or commodities in different markets. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge over time.In order for arbitrage to occur, there must be a uniform set of conditions that need to be met. For example, the same asset does not t Arbitrage is defined as the practice of taking advantage of a price difference between two or more markets.In particular, this involves the simultaneous buying and selling of securities, currencies, cryptos, or commodities in different markets. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge over time.In order for arbitrage to occur, there must be a uniform set of conditions that need to be met. For example, the same asset does not t Read this Term
The global regulatory environment for retail traders is rapidly changing. While initially traders in the EU have been heavily hit by the new regulations, many brokers opened subsidiaries in offshore jurisdictions.
On-boarding of EU clients to an offshore entity is somewhat of a gray area, which many brokers took advantage of. For retail brokers, the lack of regulatory restrictions meant a green light.
Opportunities for a regulatory arbitrage across financial markets have been traditionally short-lived. A fresh reminder of what could come next brings me back to 2014.
At the time, the Japanese financial regulator JFSA sent a request to ASIC to prohibit local brokers to take on Japanese clients.
Before acquiring an official permit to operate in Japan, Swiss brokerage Dukascopy stopped accepting clients from the country.
The new Head of IG Group's Asia Pacific and Africa unit will be based in Melbourne.
Kevin Algeo, Head of IG Group Asia Pacific and Africa
IG Group has promoted its CEO in Australia, Kevin Algeo to Head of Asia Pacific and Africa. The long-time industry veteran has been with the London-headquartered brokerage since 2013.
Algeo started his tenure at IG Group as a Managing Director in South Africa. After spending almost four years in that position, he moved to Australia in February last year.
Starting as Deputy CEO in Melbourne, Algeo got promoted to CEO in June last year. A recent update on his LinkedIn profile shows that his official title is now Head of Asia Pacific and Africa.
Different Subsidiaries
IG Group has been handling different clients across the globe via different regional entities. The company’s core London office used to be the home for global users in most of the cases.
The recent regulatory changes have prompted many companies to rethink their policy when it comes to opening client accounts outside of the EU. The obvious choice for IG Group has been the broker’s Australian office.
The regulatory license issued by the Australian Securities and Investments Commission (ASIC) permits the company to offer higher Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term to its clients in Asia Pacific and from across the globe.
While traditionally FCA-regulated brokers have been onboarding clients from Africa to their UK entities, the evolution of the market has prompted firms to take a different approach.
Regulatory Arbitrage Arbitrage Arbitrage is defined as the practice of taking advantage of a price difference between two or more markets.In particular, this involves the simultaneous buying and selling of securities, currencies, cryptos, or commodities in different markets. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge over time.In order for arbitrage to occur, there must be a uniform set of conditions that need to be met. For example, the same asset does not t Arbitrage is defined as the practice of taking advantage of a price difference between two or more markets.In particular, this involves the simultaneous buying and selling of securities, currencies, cryptos, or commodities in different markets. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge over time.In order for arbitrage to occur, there must be a uniform set of conditions that need to be met. For example, the same asset does not t Read this Term
The global regulatory environment for retail traders is rapidly changing. While initially traders in the EU have been heavily hit by the new regulations, many brokers opened subsidiaries in offshore jurisdictions.
On-boarding of EU clients to an offshore entity is somewhat of a gray area, which many brokers took advantage of. For retail brokers, the lack of regulatory restrictions meant a green light.
Opportunities for a regulatory arbitrage across financial markets have been traditionally short-lived. A fresh reminder of what could come next brings me back to 2014.
At the time, the Japanese financial regulator JFSA sent a request to ASIC to prohibit local brokers to take on Japanese clients.
Before acquiring an official permit to operate in Japan, Swiss brokerage Dukascopy stopped accepting clients from the country.
The new Head of IG Group's Asia Pacific and Africa unit will be based in Melbourne.