Trading 212, a retail broker holding multiple licenses, has strengthened its executive team with the latest onboarding of Darren Dale as the Group Chief Compliance Officer.
The appointment came when the broker is in the process of gaining regulatory permission in Germany. Currently, it holds licenses in the United Kingdom, Bulgaria and Cyprus.
Dale is a seasoned compliance expert, bringing around 17 years of industry experience to his new role. He joined Trading 212 from the London office of ADSS, where he was the Head of Compliance & MLRO for four years.
His other work experience in the financial services industry includes a five months stint at FXCM as Deputy Head of Compliance for the UK and EU, and a couple of years at Cornhill Capital as the Head of Group Compliance. Moreover, he was the Head of Compliance at London-based City Credit Capital for seven months, as seen on his Linkedin profile.
Executive Changes Came with Growth
Trading 212 has restructured its management in the past 18 months, and the hiring of Dale is a part of that. The broker appointed Mukid Chowdhury as the Chief Executive Officer in May 2021, followed by George Mantilas as the Chief Operating Officer and Philip Parsons as the Chief Financial Officer.
Meanwhile, the performance of Trading 212 soared with the effects of the pandemic on the retail trading market. The group’s generated £124.1 million in revenue in 2020, which is a jump of 318 percent year-over-year. Further, revenue from its UK business in 2021 jumped by 74 percent to more than £94 million.
The broker is operating as both a CFDs and a stockbroking platform, but is continuously shifting focus toward stockbroking. It further received a £13.75 million cash injection last year for boosting its growth.
Following Brexit, Trading 212 migrated European clients to its Cypriot-based entity, Finance Magnates reported earlier. In addition, it launched zero-commission services in the UK in mid-2017, which now has become a trend in the trading industry.
