Finance Magnates learned on Tuesday that Peter Leonidou has joined LMAX Exchange as director of sales and business development. Leonidou will be based in Cyprus for his new role.
The new LMAX executive joins the firm at an interesting time. As Finance Magnates reported last month, LMAX recently acquired CB Capital – a retail brokerage regulated by the Cyprus Securities and Exchange Commission.
LMAX Group CEO David Mercer said at the time that the acquisition was made in part to offset the risks posed by Brexit. Acquiring CB Capital, he said, would allow LMAX to continue providing services to clients in the European Union.
But the purchase was also aimed at growing LMAX’s business in Cyprus and the Middle East. There are more than 200 CySEC-regulated brokers on the small Mediterranean island alone.
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“As our Asia and US-based businesses continue to thrive, it was clear that Southern Europe and the Middle East should be the next areas of focus for us in terms of growth,” said Mercer.
“We look forward both to improving our current institutional offering, as well as connecting with new businesses in the region.”
Driving B2B growth
Leonidou will likely be working on developing this new line of business for LMAX. The group looks like it will be focusing its efforts on providing liquidity to other brokers in Cyprus.
The incoming executive is likely to have plenty of connections in the industry that he can bring with him to his new role.
Prior to joining LMAX, Leonidou spent a year and a half with technology provider B2Broker. In a two-decade-long career, he has also held senior roles at Leverate, Saxo Bank, ForexTime, and Alpari.