Finance Magnates learned this Friday that Ross Newell will be joining the institutional sales team at CMC Markets (CMC).
According to a statement released by the broker, Newell will be working at the company’s London headquarters as a Business Development Manager in the firm’s Institutional Business division.
That will entail working to boost the sales of a number of different CMC products. Most notably, Newell will be attempting to sell CMC’s liquidity services to hedge funds, banks, and proprietary trading firms.
On top of that, he will be looking to sell the brokerage’s white label solutions to banks and other financial institutions. The company has been successful in this regard having struck a deal with ANZ Bank to move over half a million clients on to its white label trading platform.
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“Ross joins the London office at an exciting time for the business,” said Richard Elston, Head of Institutional at CMC Markets. “With our multi-asset offering, CMC is seeing increased demand from…institutions looking for a single counterparty to meet all their trading needs. We look forward to working with Ross as he helps us continue to grow our presence in this field.”
From ODL to CMC
Newell is no stranger to the trading world. He joins CMC from Australian broker AETOS Capital where he was Head of AETOS Director, the firm’s institutional business division.
Prior to joining AETOS Capital, Newell also had a nearly three-year-long stint at AxiCorp. Working on both the retail and institutional side of the business, he was responsible for bringing in the broker’s first institutional clients.
Alongside this, Newell also spent time in sales roles with ODL Securities, Cantors Fitzgerald Europe, and GFT Global Markets.
As Elston’s comments hinted towards, Newell joins CMC at an interesting time. With growing regulatory pressure as a result of the European Securities and Markets Authority’s product intervention measures, the firm is branching out into a number of different areas to ensure it can maintain its prior success as a business.