Destek Markets UK Boosts Capital to Further Expand Institutional Unit

Destek Markets UK has boosted the company’s capital base by £500,000 as the firm is aiming to continue expanding in 2018. The brokerage has just undergone a senior executive reshuffling with the former CEO of the company, with Matthew Wright resigning as a director and CEO on the 15th of December.

The former CEO of the FCA-regulated brokerage was instrumental in building the current team and setting up the business. After joining Destek Markets UK in early 2017 and establishing the company’s operations under an FCA-regulated subsidiary, Mr. Wright was succeeded by Tuna Yilmaz, who was the Managing Director of Destek Yatirim, the firm’s sister company in Turkey.

Discover credible partners and premium clients in China's leading event!

[gptAdvertisement]

Tuna Yilmaz moved to London with his family earlier this year and is taking over the leadership slot at the company. Mr. Yilmaz, who has a degree in mathematical engineering, relinquished his role with Destek Yatirim and will look to further strengthen the board of Destek Markets UK in 2018.

A Capital Boost

The company’s owners recently injected £500,000 into the brokerage to fund its growth plans and to increase focus on the institutional side of the business, focusing on professional and ECP clients.

Commenting to Finance Magnates, Mr Yilmaz said: “As we now move to the next stage of our growth plan and prepare to address the changing regulatory framework that comes into force on the 3rd January, I am confident that the team that we have in place will allow us to significantly increase Destek’s global footprint and increase its customer base.”

“As evidence of our growth plans, we have had additional capital injected into the company and expect further significant injections next year,” Mr. Yilmaz explained.

The CCO of Destek Markets, Heiko Mueller, added: “The growth strategy that we put in place earlier this year has been augmented by the recent hire of Daniel Lawrance. With Daniel’s experience, we are expanding into the institutional business and with the recent enhancements to our trading infrastructure and the capital injection, we are now better placed to attract professional and ECP clients especially those who will be looking for new brokers as a result of the changes introduced by MiFID in January 2018.”