IG Group (LON: IGG), one of the largest retail brokerage firms, is strengthening its operations in Europe with the latest appointment of Tobias Stöhr as the Head of Sales for Germany.
According to his Linkedin profile, Stöhr has joined the brokerage group’s German unit, IG Europe GmbH, this month and is based in Frankfurt.
He joined the London-headquartered broker from retail securitized derivatives trading Spectrum Markets, another independent unit of IG. There, he was a Sales Executive for three-and-a-half years.
Prior to that, he spent almost 12 years with Börse Stuttgart, one of the largest German stock exchanges. He left that organization from the role of Senior Sales Institutional Clients.
Executive Changes in German Brokers
Though IG has a major presence, it is not the only retail brokerage with German operations to make changes in executive roles.
Jens Chrzanowski recently left Admiral Markets, where he was the Regional Director of Germany, Austria, Swiss and the Netherlands for 11 long years, to take up a new role as the Director of XTB’s German branch. To fill the gap created by Chrzanowski, Admiral Markets onboarded Roman Krutyanskiy as the Managing Director in Germany.
Developments at IG
Meanwhile, IG strengthened its leadership with the hiring of Glen Hastings as Institutional Sales Manager last month. In addition, it onboarded Robert van Eyden as the South African CEO and promoted Ntombizodwa Jila as the Compliance Executive, along with several other key appointments in recent months.
Additionally, the broker continued to generate massive profits as it confirmed its FY22 performance. Its revenue for the period jumped by 16 percent with a pre-tax profit of £477 million. Furthermore, the broker launched a £150 million share buyback program to reduce the share capital.
