The Polish retail broker, X-Trade Brokers (XTB) has appointed Jens Chrzanowski, a former Chief Value Officer on Admiral's Management Board, as the Director of its German branch.
The broker said Chrzanowski took over the German Office on Thursday, September 1, stepping into the shoes of Eliza Dygutowicz who departed XTB after 13-years.
"Ms Dygutowicz has done an excellent job of building up the branch, and her departure marks the end of an important chapter for XTB Germany. We wish her all the best for her upcoming projects," Omar Arnaout, the CEO of XTB, said in a statement that was released on Thursday.
Finance Magnates reports that Chrzanowski had similarly departed Admirals after 11 years of working at the Estonia-based financial services group.
‘Renowned Professional’
Meanwhile, Arnaout described the company's new hire, Chrzanowski, as a "renowned financial market professional" who will help take XTB's growth trajectory "to a qualitatively new level."
“As the new head of XTB Germany, Chrzanowski wants to focus on promoting the broker's offering, in particular its investing platform,” XTB said in a statement shared with Finance Magnates.
Chrzanowski, who noted that investor sentiment has changed significantly in the last few years, believes that XTB will continue to stand out from the competition because of its expertise.
"In times when people are looking for different investment alternatives, attention is slipping to increasingly complex financial instruments, with which XTB has been able to demonstrate outstanding expertise over the past 15 years of presence in Germany,” Chrzanowski said.
XTB's First Half-Year Performance
In the first half of 2022, XTB’s net profit skyrocketed 638.4% year-on-year (YoY) to PLN 480 million.
According to the broker’s preliminary financials for January to June 2022, the firm’s operating income hit PLN 836.2 million, which is a 245.5% YoY surge.
Additionally, the broker’s average number of active clients soared 42.7% to 149,824 while the number of new clients dropped -6.3% YoY to 101,030.
