Adel Jibrin, the Chief Executive Officer for Dubai at INGOT Financial Brokerage, has stepped down from his position in less than four months after joining the firm.
Jibrin joined the broker last March when it opened a new representative office in Dubai. The move into the region was made to spearhead its business activities. In addition, it is planning to establish an administrative office in Qatar.
After Jibrin’s resignation, it is unclear who will head the broker’s Dubai office.
Meanwhile, Jibrin is an experienced financial services industry executive with more than a decade of experience. He has worked with several big brokerage brands with their operations in the Middle East.
Before joining INGOT, he was the Regional Director at Accuindex, a forex and CFDs broker based in Dubai. On top of that, he worked for MultiBank Group for more than a couple of years, first as the IB and Retail Sales Director and then as the Senior Sales Director.
His experience further includes a four-year-long tenure at One Financial Markets as the company’s Senior Manager of Business Development.
He started his career in early 2010 but soon entered the financial services industry. He started working with brokers in late 2013 as he joined Alpari as a Senior Account Manager. Based in the UAE, he helped the broker maintain its client base.
Though Jibrin departed, INGOT had hired Curtis Marvin earlier this month as its Head of Sales.
The Rise of Retail FX in the Middle East
Apart from INGOT, several other big brokerage names are now betting big on Middle Eastern markets. The clear regulatory guidelines for financial services companies in some of the top jurisdictions in the region have attracted many brokers.
Furthermore, a recent Finance Magnates analysis pointed out that a large part of the new company registrations at DIFC in 2021 were from brokers.
