Trading 212, a fintech company and FCA-regulated broker, has made its latest promotion, elevating Stefan Sotirov as its Chief Operating Officer (COO). His most recent promotion caps off nearly a two-year career with the Bulgarian origin group where he led customer service’s teams since 2017.
Trading 212 will surely know to use Sotirov’s experience and leverage his many connections in the industry to grow its business and help handle its latest large-scale growth, as indicated by a notable uptake in the number of users on the company’s website.
According to a recent filing with the Companies House, Trading 212’s new, funded accounts increased from approximately 5000 in January 2017 to around 15,000 at the end of the year. The same report showed that the FCA regulated investment broker generated significant increases in revenue, which almost quadrupled the 2016 figure to 4,178,043 pounds ($5,656,706) in 2017. And despite a drastic increase in operational costs, the company still finished the year with 1,279,727 pounds ($1,732,639) of pre-tax profit.
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Sotirov will be tasked with leading Trading 212’s product management, services, support, and social service offering, following a career spanning over three years. Before his employment at the child company of Avus Capital, he has built a reputation for his key roles as customer care supervisor and technical support analyst.
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The hire follows a number of developments for the group over the last year as it looks to expand its focus into various segments.
The technology-driven broker has been a prominent player in the Eastern European markets; however since launching a strong marketing campaign focused on the UK, it has seen a considerable number of users from this region.
On the operations front, Trading 212 has undergone a number of key developments, including offering free stock trading for its clients in the UK and Germany. The UK based broker is also gearing up to expand its client capacity, as the company is launching a new affiliate program to provide increased commissions while providing marketing tools to assist affiliates in the process.
Commenting on his appointment, Sotirov told Finance Magnates that he is proud of being part of the Trading 212 success story for the last two years. “Now that I’ve been honored to be the COO of Europe’s most innovative fin-tech pioneer, I am eager to work closely with our amazing teams to develop, coordinate and execute business strategies that will sustain and grow our business. I am positive we are well positioned to take advantage of the challenges and opportunities of the new age trading industry,” he added.