APM Markets (Previously BUX) Appoints New Executive Director Ahead of Relaunch

APM Capital Markets (operating as APM Markets), formerly the UK unit of BUX (which operated as BUX Markets), has appointed Nick Spencer-Skeen as its new Executive Director. He has been with APM’s UAE entity for the past two-and-a-half years and has now taken on the new role at the London unit.

Spencer-Skeen clarified that he will continue as a Senior Executive Officer (SEO) at APM’s UAE unit. “Excited to announce my new role as Executive Director at APM Capital Markets Limited in London. I'll be taking on this position alongside my current role as SEO at APM Capital Limited in Abu Dhabi,” he wrote in a LinkedIn post.

Strengthening Team Before Starting Operations

The appointment comes months after BUX sold its UK-based contracts for differences (CFDs) and spread betting business to UAE-based APM Capital. Following the acquisition, APM rebranded BUX Markets to align with its global services.

BUX also sold its primary Netherlands-based business to ABN AMRO a week before the sale of the UK unit. Despite becoming a subsidiary of the Dutch lender, BUX Holdings confirmed that it would continue to operate independently.

However, APM's UK business has yet to start onboarding clients. Its website states that the platform is “re-evaluating its product offering and will return in the future.”

Finance Magnates previously reported that the revenue and profit of APM Markets (formerly BUX Markets) declined significantly in 2023, the period leading up to its acquisition.

An Industry Veteran in Charge

Spencer-Skeen is a veteran of the forex industry, having spent his career on the institutional side of the business. Before joining APM, he was Chief of Staff for the EMEA region at StoneX Group and oversaw the company’s rebranding from INTL FCStone.

Over the years, he has held executive roles at Banca IMI, Banca Caboto, Rolfe & Nolan, ING Derivatives, and several other organisations.