Credit Financier Invest (CFI) is opening the doors of its London office. The company is delivering on its commitment to establish physical presence in the UK as first reported by Finance Magnates in June.
The establishment of a London office has been made possible by the regulatory licensing rules within the EU. CFI holds a license from the Cyprus Securities and Exchange Commission (CySEC). The company’s new office is the company’s fifth, and its second within the EU. CFI already has physical presence in Beirut, Amman, Dubai and Larnaca.
Richard Wynn Hire
Serving as CEO of Fixi PLC until June 2018, Richard Wynn is joining the company at a crucial time for the industry. With the new ESMA regulatory framework already in place, companies are facing a time of transformation.
CFI appears committed to continue investing in building up its brand as client acquisition costs are rising sharply. The lifecycle of the average retail foreign exchange and CFDs trader is increasing, leading brokers to invest more heavily in marketing, PR and brand imaging.
CFI’s new offices are in the heart of the City of London on 70 Gracechurch Street. The location’s strategic placement in the financial district is further testament of the company’s efforts to build a solid image.
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“It was important for me to be part of a company that not only understands, but adapts to a rapidly changing market. CFI has a strong background and long experience of client service, something akin to my own experience,” said new branch manager Richard Wynn.
Wynn has over 30 years of experience in FX and the trading industry.
The founders and managing directors of CFI Financial Group Holding, Hisham Mansour and Eduardo Fakhoury, explained that the new offices have been opened to further the success of the company globally.
Capital Intensive Efforts
CFI’s move comes amid a broad spending effort on part of retail brokers in recent months. While some are committing capital to football sponsorships, others have been creative in marketing. The common goal for all the companies that continue to operate within the new post-ESMA environment, is that they are spending more money and effort in order to onboard more clients.
The new regulatory restrictions on the advertising of foreign exchange and CFDs are out, and the impact is likely to yield a longer lifecycle of retail clients. This environment is likely to necessitate business process optimization after a careful analysis of the incoming data over the next several months.