Pepperstone Hires Veteran FX Executive to Lead Its Africa Strategy

Pepperstone has appointed Andrew Turnbull as Head of Africa to lead its strategy across the continent as trading activity grows, and

Based in Nairobi, Kenya, Turnbull comes with more than two decades of experience in financial services, having previously held senior positions at firms such as ODL Securities and FXCM Europe. Before his current role, he was Director and Co-founder of Wellesley Group Investors Limited, an alternative property investment and peer-to-peer lending platform.

Pepperstone holds a license from Kenya's Capital Markets Authority. It was among the early African regulatory bodies to establish a formal framework for online trading.

"There is a growing appetite for online trading across the continent, but every market is different. I'm looking forward to building on Pepperstone's presence here and working with our teams and partners to better understand and serve the different trading communities across Africa," Turnbull said.

A Maturing Market

According to Marc Boever, Pepperstone's Head of EMEA, Africa encompasses dozens of distinct trader profiles and regulatory environments, which has driven the broker to allocate increased local resources.

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Across the continent, rising awareness of financial markets along with improved access via digital platforms has driven a substantial surge in trading activity in recent years.

Meanwhile, regulators are intensifying their oversight. The registry for Over-the-Counter Derivatives Providers (ODP) in South Africa has significantly raised the costs for retail brokers, driven by a more rigorous licensing framework and a stricter supervisory methodology.