Markus Kegler, the Director of CMC Markets Germany, announced that he is exiting the company today (Monday). The former Product Manager for Contract for Difference at Commerzbank AG has held his current role at CMC Markets Germany for four years and seven months.

End of an Era

In a post on LinkedIn, Kegler mentioned: "Today marks the end of my employment with CMC Markets Germany. I look back on four years and seven months full of pride, a lot of hard work, conviction, a smile every day, sensational colleagues, many new things learned, and the most exciting time of my career!"

"I am infinitely grateful for the time I was able to spend with you, CMC Markets Deutschland. I am still overwhelmed by the warm farewell, the incredible words and wishes you have given me, and your great gifts! I will always keep you in my heart. THANK YOU!"

Last month, CMC Markets released a bullish forecast, projecting its net operating income for the fiscal year 2024 to exceed the previous outlook. Initially expecting between £290 million and £310 million, the company estimated a figure surpassing the upper end of this range. This followed a positive trading update by the firm.

Optimistic Outlook

After a slow first half to the fiscal year, characterized by a decline of 20% in net operating revenue to £122.6 million and a pre-tax loss of £2 million, CMC Markets implemented strategic measures to improve its financial position. These measures include a reduction of 17% in its workforce as part of cost reduction and efficiency plans, Finance Magnates reported.

Despite the challenging start, CMC Markets anticipates ending the fiscal year with an operating cost of nearly £240 million, excluding variable remuneration and non-recurring items. Besides that, the firm is focusing on expanding its global presence with the introduction of its stock investment platform in Singapore.