IG Group Promotes Nicos Demetriades as Head of Cyprus

IG Group has promoted Nicos Demetriades as the new Managing Director and the Head of its Cypriot operation, BrightPool Ltd.

Based in Cyprus, Demetriades has already taken over the new position and the responsibilities in the company last month, according to his Linkedin profile.

IG established its Cypriot subsidiary BrightPool in 2019, which is operating with a local license and is offering multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term market-making services. Demetriades joined the company in May 2019 as an Executive Director and the Head of Finance and played a crucial role in establishing the Cyprus operation in its early days.

"Our target is to provide the best liquidity available for the multi-asset products of the group and further develop Cyprus office into one of the most successful within the group," Demetriades told Finance Magnates.

He has a strong background in finance and headed the finance department of several companies. Before joining IG Group, he was the Head of Finance and a Risk manager at Cyprus-based Purple Trading. Moreover, he held similar roles at Spot Capital Markets, another Cyprus-licensed financial service company.

Demetriades started his career in the finance industry in early 2007 at the Bank of Cyprus and later moved to the financial services audit department of the Cyprus division of Ernst & Young, one of the global big four audit firms.

Multiple Moves

Meanwhile, the IG Group has had some major executive moves both in Europe and globally in the past few months. While the group promoted Matt Macklin as the CEO of the United Kingdom and Asia-Pacific of Emerging Markets, Katherine Whitton was appointed as the global Chief Marketing Officer.

The IG Group recently agreed to sell all of its stakes in two American exchanges, Nadex and Small Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, to the operator of one of the largest global crypto exchanges. The group reported strong revenues for the first quarter of the ongoing financial year and is optimistic about its future.