Sam Chaney, Chief Commercial Officer at NAGA Group, has announced his departure from the company on LinkedIn today (Tuesday). Chaney stated that he had made the “bittersweet decision” to leave his role, marking the start of a new phase in his career.

NAGA Chief Commercial Officer Exits

Regarding his departure, Chaney stated: “As I close this chapter, I'm filled with immense gratitude for the support, camaraderie, and opportunities that Naga has provided. Looking ahead, I'm thrilled to announce that I'll be embarking on a new adventure very soon.”

Chaney joined NAGA Group with a background in financial services. Before his tenure at NAGA, he served as Head of Sales Development at INFINOX Global from March 2018 to March 2023. INFINOX Global, based in London, provides Forex trading services and operates under several global regulatory bodies.

Prior to INFINOX, Chaney was Head of Sales for Institutional FX and CFD at Hantec Markets from August 2014 to March 2018. Hantec Markets is known for its Forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term services and is regulated by multiple authorities, including the FCA and ACIS. The company offers various trading solutions and platforms, including MT4 and Currenex.

Chaney began his career at OANDA Europe, where he was Sales Manager for FX and CFD from March 2014 to August 2014. During his time at NAGA Group, Chaney worked with a team to navigate changes and contribute to the company's growth.

NAGA and CAPEX.com Merger Finalized

Meanwhile, NAGA and CAPEX.com have secured the necessary regulatory approvals for their merger, as reported by Finance Magnates. Announced in December 2023, the deal was approved by NAGA’s shareholders in April. The merger is set to be completed by August 2024.

The strategic merger aims to leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term the strengths and market reach of both brokers, with expectations of generating $250 million in revenue over three years and saving $10 million annually. Currently, the combined platforms have about 1.5 million users in over 100 countries, with a goal to reach over 5 million users by 2025/26.