Ex-Forex CFO and Compliance Consultant Joins Leverate as GM, Replacing Previous Departure

The Cyprus-based and regulated subsidiary of brokerage technology provider Leverate, under the name Leverate Financial Services (LFS), has today announced the appointment of Christoforos Theodosiou as General Manager, where he will also manage the CY office and operations of LFS's Cyprus business, according to an official company press release.

This news follows the previous departure of Eyal Wagner from Leverate, which Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates wrote about recently, and whose previous role at the company is effectively succeeded by Mr. Theodosiou as a replacement and addition to the firm's management, as per the press release. According to people close to the situation, Mr. Wagner left Leverate on very good terms and had even helped pave the way for the selection of Mr. Theodosio, as told to Forex Magnates.

"We are very happy to have Christoforos join Leverate," said Co-CEO Doron Cohen of Leverate, commenting in the official corporate press release. "Christoforos has a strong background and will be able to contribute extensively to the growth of our operation in Cyprus," added Mr. Cohen in the official announcement.

Previously as senior consultant at Cyprus-based advisory firm K.Treppides & Co., Mr. Theodosiou had established the accounting departments for licensed investment firms and provided compliance and support services to CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term regulated companies, according to a description in the press release, and prior to which he had served as CFO with Cyprus-based broker JFX.com.

Commenting in the announcement regarding his new position, Mr. Theodosiou said, "I am excited to join the Leverate team," and added, "it is my goal to increase market share in Cyprus and MENA, and to maintain and exceed the high levels of customer service and support that the Leverate name has come to mean."