CMC Markets has appointed Michael Bogoevski, one of its executives, as the Head of Distribution for APAC and Canada. Formerly, he was the broker’s Head of Singapore.
“I’m happy to share that I’m starting a new position as Head of Distribution APAC and Canada at CMC Markets APAC & Canada!” Bogoevski wrote in a Linkedin post.
He joined the London-headquartered broker in September 2013 as the Head of Sales Trading for the APAC and Canada parts. He was then promoted to the Head of Singapore after four years.
Earlier at CMC, Bogoevski spent more than five years as part of the broker’s Institutional Business Development Team and handled wholesale stock broking and derivatives like options, forex and contracts for differences (CFDs).
Bogoevski is a seasoned financial industry expert with around 24 years of industry experience. He started as a Junior Quantitative Analyst for Rand Merchant Bank in 1998 and later moved to Shirlaws as a Consultant for a short period.
Before CMC, he worked at Société Générale for a couple of years as a Financial Engineer.
Focus on the APAC
CMC Markets' focus on the APAC markets was prominent with a few marketing moves taken by the broker to promote its brand in the region. Last month, the broker renewed its sponsorship deal with New Zealand’s professional rugby team, Blues, for another three years. The broker has been sponsoring the team since February 2021.
The London-headquartered broker ended the financial year 2022 with £281.9 million in revenue, which came in line with its expectations, but the profits dropped by 59 percent. For the ongoing year, the broker is expecting its operating cost to jump by 5 percent more than the annual guidance provided previously.
Meanwhile, the broker is in the process of reducing its share capital with an ongoing £30 million share buyback program.
