With collaborations with six well-known brands in the Contracts for Difference (CFDs) industry under his belt, James Watts is now joining Taurex, where he will serve as Commercial Director. He brings to the former Zenfinex over a decade and a half of experience gained at companies in Dubai and London.

Joining Taurex from Evalect Group

Watts is joining Taurex, a broker located in 14 countries worldwide and licensed in the UK, UAE, and Seychelles, after nearly three years as a senior executive officer at Evalect Group, a company associated with financial markets and FX options.

However, he previously collaborated with several CFD brokers, supporting their sales departments. These included Multibank Group, AFX Group, London Capital Group (LCG), IronFX, and Alpari UK, where he spent the longest time, almost four years. Watts began his career in 2008 as FX Sales at Swiss-based Swissquote.

This move is particularly interesting as Taurex recently, in May, promoted its long-time employee, Mark Sheng, to the same position. Sheng previously served as the Head of APAC. Sheng's LinkedIn profile indicates that he still holds the same position but from the UK office, while Watts is set to work from Dubai.

Meanwhile, Taurex's Head of LATAM, Jeffrey Navarro, decided to leave the company after more than two years. A month later, he started working for AvaTrade, supporting its development in the same region.

Taurex's Revenue Growth of 72%

London-based Zenfinex rebranded in September last year and has since been operating under the name Taurex. Just under two months ago, its British branch reported results achieved in 2023, reporting a 72% increase in revenue.

Zenfinex Limited's revenue amounted to £848,306, marking a substantial increase from the previous year. However, a significant jump in costs resulted in the company unable to avoid an operating loss, which amounted to £2.29 million.

"The business has seen significant investment over 2023 and this will continue in 2024 with the firm receiving approval from FCA for a full scope dealing as principal broker in Q4 of 2023," the company commented in the report.

Previously, Zenfinex successfully completed its Series B financing, raising $15 million. Oscar Hilt Tatum IV, a returning investor, led this round of funding. The company plans to enhance its proprietary technology development with this new capital.