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ATFX, XTX and LIquidnet and More: Executive Moves of the Week

This week marked a decline in executive appointments across the forex, crypto, and fintech sectors, suggesting a slight reduction in industry transitions.

Recently, the financial industry has witnessed several noteworthy executive moves, including: John Coules has joined Appital; ATFX appointed Gary Fragoso as its Growth Manager for the Latin American market; Jan Strømme has assumed the role of Business Development Manager at Coral Reef Technologies; Nomura has welcomed Dr. David Seif as its Chief Economist for Developed Markets; Liquidnet has reinforced its global listed derivatives offering with Alex Grinfeld as the Co-Head of its futures business in the Americas; Ronnie d’Arienzo brings his extensive experience to Token.io as its Chief Commercial Officer. These appointments underscore the industry's ongoing evolution and strategic positioning amidst technological advancements and market dynamics.

Explore the dynamic evolution of leadership changes in the forex, cryptocurrency, and fintech industries with our weekly overview. Immerse yourself in the continuously shifting landscape of executive transitions across the financial technology sector.

Executive Moves of the Week

HSBC Veteran Ditches Banking Giant after 17 Years for This Fintech Firm

Appital, a fintech firm specializing in peer-to-peer price discovery and liquidity sourcing for asset managers, has appointed John Coules to its business development team. Coules, with 17 years at HSBC and 13 at Lehman Brothers, brings extensive expertise in pan-European equities sales trading. His appointment coincides with Appital's rapid growth, reaching $4 billion of buy-side liquidity since launching its Appital Insights platform in September 2023.

Brian Guckian, the Chief Business Development Officer at Appital, highlighted Coules' significance for global expansion. Coules praised Appital's unique technology, which transforms liquidity access and price discovery for buy-side firms. The Appital Insights platform, embraced by over 40 asset managers with $15 trillion AUM, offers discreet execution for large orders and tailored liquidity events. Moreover, Appital's collaboration with Virtu Financial's Triton Execution Management System enhances its book-building capabilities, amplifying its market impact.

Explore Appital's groundbreaking liquidity sourcing approach and its collaboration with Virtu Financial's Triton Execution Management System, bolstering its platform for traders and portfolio managers, amidst John Coules' departure from HSBC after 17 years to join Appital's ranks.

ATFX Targets Latin American Market, Announces New Growth Manager

ATFX has continued its expansion in the Latin American (LATAM) market with the appointment of Gary Fragoso as its new Growth Manager. Fragoso, previously at companies like AT&T and GSK, brings diverse experience in sales and business development despite being new to the FX/CFD industry. ATFX expressed confidence in Fragoso's ability to drive innovation and development in the region.

Significant personnel changes at ATFX include the hiring of Graham Morris as Head of Compliance for Australia and Drew Niv, the Co-Founder of FXCM, as the new Chief Strategy Officer. These appointments highlight ATFX's focus on strategic partnerships and delivering tailored services to global customers. Additionally, the expansion of the team with Aditya Singh as the Business Development Director for the Institutional segment in the MENA region underscores ATFX's dedication to growth and market expansion.

Display more about ATFX's strategic personnel moves and its expansion efforts in key markets worldwide.

XTX Markets' Former Exec Jan Strømme to Lead FX Trading at Coral Reef Technologies

Jan Strømme, previously the Global Head of Distribution at XTX Markets, has transitioned to Coral Reef Technologies, where he has assumed the role of Business Development Manager. In his new position, Strømme will focus on expanding FX trading partnerships globally, leveraging his expertise in trading and liquidity relationships. He expressed enthusiasm for his new role: "I am happy
to announce that I’m working with Coral Reef Technologies LTD and the Final
(Financial Algorithms) group of companies, as a Business Developer for Spot FX."

Prior to joining Coral Reef Technologies, Strømme co-founded Alphaplate, a market-making platform, and accumulated extensive experience with notable brands, such as FX Alliance, DNB, and Thomson Reuters. Meanwhile, XTX Markets launched an AI Residency Program under its new division, XTY Labs, aimed at fostering innovative research in algorithmic trading through machine learning. The program offers immersive experiences for aspiring candidates with strong research capabilities and proficiency in modern deep learning architecture.

Reveal more about Jan Strømme's transition to Coral Reef Technologies and XTX Markets' AI Residency Program, shaping the future of algorithmic trading.

Nomura Taps Hedge Fund Veteran David Seif as Chief Economist for Developed Markets

Nomura has appointed Dr. David Seif as Chief Economist for Developed Markets, bringing over 15 years of macro research experience from major hedge funds. Based in New York, Seif will report directly to Rob Subbaraman, the Head of Global Macro Research, and Paul Nikodem, the Head of US Fixed Income Research. Strengthening Nomura's research capabilities, Darren Shames, the Head of Global Markets America Sales, expressed excitement: "We are excited to
have David join the Nomura research platform as we continue to enhance and
expand our fixed income macro offering to clients globally."

Before joining Nomura, Seif held positions such as the Chief of Global Economics at Brevan Howard Asset Management and Senior Economist at Point72 Asset Management and Paulson & Co. His academic background includes a Ph.D. and MA in Economics from Harvard University and a BS in Economics from MIT. Nomura's recent executive appointments, including Hemish Shah as the Head of EMEA Flow Rates, coincide with positive Q3 fiscal performance, with a surge in net revenue to 400.2 billion yen ($2.8 billion) and an uplift of 39% in pre-tax income.

Investigate more about Nomura's strategic expansion and the impact of David Seif's appointment on its research capabilities amidst favorable fiscal performance.

Morgan Stanley Exec Jumps Ship to Join Liquidnet's Futures Division

Liquidnet has strengthened its global listed derivatives offering with the addition of Alex Grinfeld, the former Executive Director at Morgan Stanley, to co-head its futures business in the Americas. With 11 years of experience at Morgan Stanley and previous roles at Goldman Sachs, Grinfeld has joined Brian Cashin to lead Liquidnet's futures division, enhancing execution services amidst the firm's technological advancements. Mike du Plessis, the Global Head of Listed Derivatives at Liquidnet, emphasized Grinfeld's integral role in launching new technology and disrupting traditional banking dominance in buy-side solutions.

Liquidnet's strategic hires in the US echo similar moves in Europe where it recruited Dan Noorian and Darren Smith from UBS to lead the London Listed Derivatives team. These appointments underscore Liquidnet's commitment to innovation and market-led solutions, complemented by partnerships such as the integration of AI solutions by BondIT. Despite a decrease of 28% in net income reported by TP ICAP, Liquidnet's parent company, the extension of its share buyback program indicates confidence in future growth prospects.

Find out more about Liquidnet's expansion efforts and innovative solutions to disrupt traditional banking dominance in buy-side execution services.

Token.io Welcomes Ronnie d’Arienzo as Chief Commercial Officer

Ronnie d’Arienzo has assumed the role of Chief Commercial Officer at Token.io, drawing on his extensive experience in revenue growth and commercial strategy. Previously, as the Chief Commercial Officer at Freemarket, Arienzo orchestrated remarkable revenue growth through strategic initiatives. His tenure at PPRO Group showcased his prowess, attracting top-tier clients and solidifying the company's position in the payment FinTech ecosystem.

Arienzo's impactful career spans leadership roles at Paysafe Group and Skype, where he spearheaded transformative strategies. At Paysafe, his initiatives drove impressive year-on-year growth, culminating in the company's acquisition for $1.2 billion. At Skype, he forged strategic alliances, affirming his reputation as a dynamic commercial leader.

Identify more about Arienzo's strategic acumen and his role in advancing Token.io's commercial endeavors.

This article was written by Tom Hazan at www.financemagnates.com.