Finalto, which received the approval to be acquired by Gopher Investments, announced on Wednesday that Matan Shvili has been appointed as the new Chief Executive Officer of Markets.com, the group’s retail brokerage unit.
Shvili is one of the Co-Founders of Markets.com and has recently replaced Joe Rundle who headed the broker for more than three-and-a-half years.
Though the company decided on Shvili’s appointment several months before, the official announcement was made after receiving the Cypriot financial market regulator’s approval.
Liron Greenbaum, the COO at Finalto Group, said: “We are delighted that Matan has agreed to return to Markets.com as CEO, he brings with him a unique set of skills, perspective, knowledge and most importantly the belief that anything is possible. I believe these attributes will lead Markets.com into a very exciting future.”
An Experienced Executive
Earlier, Shvili spent more than nine years at Markets.com before parting ways in late 2017, according to his Linkedin profile. Then, he worked on the business development side of the company. He later founded and led a couple of other companies over the years, which include a business formation company and a real estate firm.
“We have great expectations for the future of Markets.com, and we believe Matan has the right vision to take us forward. 2022 is going to be a busy and exciting year,” said Ron Hoffman, the CEO at the Finalto Group.
Meanwhile, Playtech shareholders earlier this month approved the $250 million bid for Finalto by Hong Kong-based Gopher Investments. Now, the two companies are working to complete the transaction by the second quarter of 2022.
