Swissquote announced on Thursday that Federico Cirulli, the Chief Executive Officer of the group’s UK subsidiary Sqissquote Ltd, has decided to step down from his position. He headed the unit for eight years.
Cirulli is an experienced forex executive and has spent almost two decades in the industry. Before joining Swissquote, he headed MIG Capital as the CEO. Additionally, he spent around four years with CMC Markets as the Head of Southern Europe and was the CEO at ActivTrades, another forex and CFDs broker.
Management Changes
To fill the gap of the apex role, Swissquote has appointed Michela Pollini and Jack Rawlings as Executive Directors in its UK office. Both of them will be responsible to guarantee the continuity and stability of business development after the departure of the long-term CEO.
Pollini joined the broker in 2014 and currently holds the position of Head Of Sales and Vice Director. Moreover, she headed Swissquote’s Italian desk earlier.
In contrast, Rawlings is Swissquote UK’s Head of Compliance and joined the broker in May 2020. In addition, he held compliance roles with other brokers, including XTB, Primus Capital Markets, Trade.io and Evolution Markets.
“The UK office will remain a key pillar for our expansion and forex development, with the intention to broaden the instruments offered and serve our clients even better and faster,” Marc Burki, the Co-Founder of Swissquote Group Holding and the Chairman of the UK entity, said in a statement.
"I would like to thank Federico for all his efforts in building our UK business, and I am confident that Michela and Jack will carry on this work and bring forward the commitment of the Group to the UK market.”
Meanwhile, Swissquote witnessed another record year in 2021 with a revenue of CHF 472 million and a pre-tax profit of CHF 223 million. For fiscal 2020, the UK entity earlier reported £2.7 million in revenue with a loss of £132,000.
