After spending the last three months at Stater Global Markets, Michael Davies is joining a tech startup valued at $3.5 billion. The move of the senior institutional FX sales executive comes after over 15 years in the financial industry.
The company which Michael Davies is joining as a Sales Director for the UK and Ireland was founded in 2012. After launching in October 2014 when its appointed former Microsoft executive Bob Muglia as CEO, the firm raised almost $1 billion in funding.
As of the last round of finding which was closed in October, the firm has a pre-IPO valuation of $3.5 billion.
Long Career in the eFX Industry
Michael Davies is best known in the industry with his long career at Sucden Financial. He was with the company for over 14 years ending his run as the firm’s Head of eFX Sales in EMEA.
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Michael started his career in the financial industry in 2003 at HI Futures. After a bit over a year, he joined Sucden Financial as a research analyst. He worked his way up to Head of Research in less than five years. After another two years in Corporate Strategy and Business Development, he started selling the company’s eFX product lineup in 2011.
Sucden Financial promoted him to senior eFX Sales Manager in 2015. Davies left the company in October last year after 14 years from his position as Head of eFX Sales for EMEA.
Commenting to Finance Magnates, a spokesperson for Stater Global Markets stated that the company has no immediate plans to replace Davies.
“The firm is continuing to experience global growth and may strengthen its sales team with additional hires over the next few months,” the spokesperson elaborated.