Boku, Elk Capital Markets, Markets.com and More: Executive Moves of the Week

<p>This week has been just as interesting as our last executive moves roundup for the forex, crypto, and fintech sector appointments, highlighting a shift in the financial technology environment.</p><p>Recent financial leadership appointments include Stuart Neal as CEO at Boku, Steve Reich as COO at Elk Capital Markets, Dany Mawas as CEO of Markets.com South Africa, and Rich Repetto joining Interactive Brokers' board. Additionally, Adam Collins becomes Head of Sales at LSEG FX, and Jeff Ward assumes the CEO role at FXSpotStream. These appointments signify growth and strategic moves in the financial industry.</p><p>Dive into the world of noteworthy executive changes in the realms of forex, cryptocurrency, and fintech with our comprehensive weekly roundup. Explore the dynamic landscape of executive transitions within the financial technology sector.</p><p>Executive Moves of the Week</p><p>Stuart Neal Joins Boku as New CEO, Likely to Be a Part of Board This Month</p><p>Stuart Neal has officially assumed the position of Chief Executive Officer at Boku (AIM: BOKU) starting from January 1st, the company confirmed today. Furthermore, Neal is expected to become a member of the company's Board of Directors on January 17th. This leadership transition follows Boku's announcement in July of Neal's appointment as CEO, a move widely anticipated after Jon Prideaux's retirement as the company's leader of five years. Prideaux, now retired, remains engaged with Boku in a non-executive capacity.</p><p>Boku specializes in providing mobile payment solutions to businesses, offering a range of services such as mobile wallets, direct carrier billing, and real-time payment schemes within its mobile-first payments network. With over 7.5 billion mobile payment accounts, the company reported a notable 26 percent increase in revenue, reaching $38.2 million in the first half of 2023. However, there was a significant decline in net income, dropping from $28 million to $2.3 million during the same period.</p><p>Stuart Neal's journey at Boku is not entirely new, as he previously served as the Chief Financial Officer in June 2017 before advancing to the role of General Manager of Identity. His past experiences also include a stint as CFO at Boku from November 2011 to October 2014. In addition to his responsibilities at Boku, Neal holds the position of Non-Executive Chairman at Loopin, a UK-based software startup, as indicated on his LinkedIn profile. His extensive background in the payments industry positions him well to lead Boku into its next phase of growth and innovation.</p><p>Discover more about <a href="https://www.financemagnates.com/executives/moves/stuart-neal-joins-boku-as-new-ceo-likely-to-be-a-part-of-board-this-month/" target="_blank" rel="follow" data-article-link="true">Stuart Neal's appointment as CEO at Boku and its implications for the mobile payment solutions provider</a>.</p><p>FX Veteran Steve Reich Joins Elk Capital Markets as COO</p><p>Elk Capital Markets, a high-frequency trading firm based in New York, has strengthened its leadership team by appointing industry veteran Steve Reich as the Chief Operating Officer (COO). While Reich assumed the role last year, the public announcement was made just yesterday. In a LinkedIn post, Reich expressed his enthusiasm for combining his trading and tech-building expertise to drive Elk's growth in terms of innovative strategies, market presence, and team performance.</p><p>Steve Reich brings a wealth of experience to Elk Capital Markets, with approximately 35 years in the trading sector, having worked for renowned financial services firms. He most recently served at Hudson River Trading as a part of the Digital Asset team. Reich's career journey includes significant roles at Credit Suisse, HSBC, Barclays Capital, and co-founding Hotspot FX (now Cboe FX), a division of Cboe Global Markets. His tenure as the CEO of FX Bridge and Head of FX and Commodities at GTS further highlights his expertise in the forex industry.</p><p>Display more about <a href="https://www.financemagnates.com/executives/fx-veteran-steve-reich-joins-elk-capital-markets-as-coo/" target="_blank" rel="follow" data-article-link="true">Steve Reich's role and the potential impact of his leadership at Elk Capital Markets in the forex industry</a>.</p><p>Markets.com Strengthens South Africa Presence with New Local CEO Onboard</p><p>Markets.com, a prominent retail forex and contracts for differences (CFDs) broker under the Finalto Group, has appointed Dany Mawas as the Chief Executive Officer of its South African operations. This strategic move is part of the broker's expansion plan in the South African market, operating under an ODP license. Mawas's primary focus in this role will be to establish a transparent and equitable trading environment for South African traders while fostering strong relationships with local partners, traders, and talent.</p><p>With approximately 15 years of experience in the finance industry, including roles in investor relations, sales, and management, Mawas brings a wealth of expertise to Markets.com. Prior to this appointment, he served as the Chief Commercial Officer at RaiseFX, an FX and CFDs broker launched in 2022. His career journey includes significant roles at FXCM, where he rose from an FX Sales executive to Managing Director in various regions, and later, at Infinox, where he held positions such as Regional Director and Head of Retention.</p><p>Mawas's appointment reflects Markets.com's commitment to enhancing its South African presence, and his extensive experience is expected to drive the company's growth and strengthen its position in the region.</p><p>Reveal more about <a href="https://www.financemagnates.com/executives/moves/marketscom-strengthens-south-africa-presence-with-new-local-ceo-onboard/" target="_blank" rel="follow" data-article-link="true">Dany Mawas's role in expanding Markets.com's operations in South Africa and the company's strategic goals in the region</a>.</p><p>Interactive Brokers Sees 23% Uptick in Client Accounts, Appoints New Board Member</p><p>Interactive Brokers (IBKR) is experiencing significant growth, with a notable increase of 23% in client accounts. This uptick in accounts reflects the company's expanding presence in the financial industry. Moreover, IBKR has strengthened its leadership team by appointing Rich Repetto, a distinguished veteran analyst, as an independent director.</p><p>Rich Repetto brings a wealth of expertise to his new role on the board. He retired after a remarkable 25-year career as a Managing Director and Senior Research Analyst at Piper Sandler, specializing in electronic trading and financial technology firms. His contributions were widely recognized, including receiving the prestigious "Analyst of the Year" award from the Financial Times in 2010. Repetto's extensive knowledge and industry insights are expected to bring valuable perspectives to the company.</p><p>Investigate more about <a href="https://www.financemagnates.com/forex/interactive-brokers-sees-23-uptick-in-client-accounts-in-december/" target="_blank" rel="follow" data-article-link="true">Interactive Brokers' growth and the valuable addition of Rich Repetto to its board, signaling a promising future for the company</a>.</p><p>Forex Industry Veteran Joins LSEG FX as Sales Head</p><p>Adam Collins, a seasoned professional with nearly two decades of experience in the forex industry, has made a significant move within the London Stock Exchange Group (LSEG). After five years at LSEG's Refinitiv, Collins has transitioned to the Capital Markets division of LSEG FX, where he assumes the role of Head of Sales. His primary focus will be on the foreign exchange market.</p><p>Collins, marking the beginning of his twentieth year in the financial industry, brings a wealth of expertise as an "experienced market specialist." His skill set encompasses FX hedging, options, trading systems, and financial markets. Before joining LSEG FX, Collins held the position of Head of Sales at Refinitiv since 2019, following a successful career that included roles at Bloomberg LP and BNP Paribas.</p><p>This transition underscores LSEG's commitment to strengthening its forex division. Notably, LSEG recently formed a strategic partnership with FlexTrade Systems, enhancing its presence in the forex market and offering seamless integration with FXall, LSEG's leading electronic platform for global currency trading.</p><p>Find out more about <a href="https://www.financemagnates.com/executives/forex-industry-veteran-joins-lseg-fx-as-sales-head/" target="_blank" rel="follow" data-article-link="true">Adam Collins's appointment and LSEG's strategic initiatives in the forex industry</a>.</p><p>Jeff Ward Joins FXSpotStream as CEO</p><p>Jeff Ward assumed the role of Chief Executive Officer at FXSpotStream, a leading FX electronic liquidity distribution provider, effective January 1, 2024. His appointment as CEO was announced last August, marking the permanent replacement of the company's Co-Founder, Alan Schwarz, who stepped down the previous year. Following Schwarz's departure, Tom San Pietro, FXSpotStream's Chief Technology Officer, temporarily served as CEO until Ward officially took the helm.</p><p>Ward's appointment was confirmed through a LinkedIn post, and it comes with high expectations. Mark Meredith, the Chairman of the Board at LiquidityMatch, the parent company of FXSpotStream, expressed confidence in Ward's exceptional leadership skills and industry knowledge. FXSpotStream, established in 2011 as a bank-owned consortium, provides services in the institutional spot forex market and has recently expanded into the derivatives market. Additionally, it introduced support for FX Algos and allocations over its API, further broadening its offerings.</p><p>Identify more about <a href="https://www.financemagnates.com/executives/moves/jeff-ward-joins-fxspotstream-as-ceo/" target="_blank" rel="follow" data-article-link="true">Jeff Ward's appointment and the strategic direction he may lead FXSpotStream towards in the competitive FX market</a>.</p>

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