London-headquartered Capital.com announced on Thursday the appointment of Kypros Zoumidou as the broker’s new Managing Director of its United Kingdom business. His primary role will be to accelerate the growth of the broker in the country and oversee its client diversification strategy.
This appointment came after the brokerage reported a massive surge in the growth of its client numbers: it witnessed a 350 percent increase in new accounts globally last year, along with a 303 percent jump in trading volume.
“Capital.com is in a significant period of growth,” Zoumidou said.
“I was attracted to the group’s commitment to its clients and its ambitions to diversify across products and clients in close step with regulatory standards and best practices.”
A Strong Background in Compliance
Zoumidou spent the last two decades working in the financial services industry. His initial roles were focused on compliance before taking up other leadership roles.
He joined Capital.com from IG Group, another big name in the trading industry. He spent almost 12 years with the company and parted as the International Commercial Director as well as sat on the board of three IG subsidiaries. There, he first oversaw the compliance in the UK and Europe and later helped the broker to expand its Middle East operations.
Before that, he was with Mint Equities and spent three years with the American electronic trading platform , E*TRADE, which is now owned by Morgan Stanley, as the Head of Compliance in the UK.
“Kypros will be instrumental to Capital.com’s ambitions in the UK,” said Jonathan Squires, Capital.com’s Group CEO. “His strong background in compliance coupled with a proven track-record managing teams and subsidiaries in mature markets like the UK will help take our business to the next level.”
“As Capital.com diversifies into direct stock investments in the UK, we will be looking to attract different client segments to reflect our wider product range. We are delighted to have Kypros lead our efforts to grow and expand in this important market.”
