RaiseFX, a new FX/CFDs brokerage launched in 2022, has tapped Dany Mawas, the former Regional Director for Africa at INFINOX Global, as its Chief Commercial Officer (CCO). The senior executive announced his appointment on Friday through LinkedIn.

RaiseFX Taps INFINOX’s Exec

Mawas, who has also doubled as the Global Head of Retention at INFINOX since April 2022, leaves the brokerage for RaiseFX after two years and five months. Previously, he served a long stint at FXCM, rising from FX Sales Associate in France to Managing Director for UK and Africa Sales between 2013 and 2018.

Speaking about his time at INFINOX, Mawas noted that in collaboration with Jay Mawji, a Director at INFINOX Capital, the UK subsidiary of the brokerage company, he was able to establish the firm as “one of the leading retail brokerages on the continent” within three years.

“A new and more challenging chapter awaits me now. I am thrilled to announce that I will be joining RaiseFX as Chief Commercial Officer,” Mawas wrote on LinkedIn.

In recent months, other executives also left their brokerages to join industry new entrants in c-suite roles. In March, Monaxa appointed Chris Trikomitis, ex-Established Markets Director at Exness, as its Chief Executive Officer. In January, Dubai-based MCC Markets tapped Michael Chen, who had previously served Admiral Markets in Shanghai as a Country Director, as its CEO.

RaiseFX Seeks to Establish Presence

David Bottin, a former Managing Director at AvaTrade in France, launched RaiseFX in April 2022. The company was registered in Kazakhstan and offers hundreds of tradeable products, leverage, tight spreads and a dark liquidity pool.

According to Mawas, RaiseFX has established its presence in several African countries: South Africa, Zambia, Tanzania and Botswana. In addition, the brokerage plans to commence operations in Nigeria soon.

“RaiseFX is also expanding its presence in Asia and the Middle East through strategic partnerships in Indonesia, the Philippines, Egypt, and Lebanon,” Mawas explained. “With recent key hires, the company is poised for significant growth.”

Meanwhile, several other appointments were recorded during the week: Equiti Capital UK appointed Steve Reeves as Chair of the UK Board; GCEX hired Tilman Schultz as the Head of Partnerships; and Hantec Markets’ tapped INFINOX’s Lee Holmes as the Head of Institutional Sales for its upcoming prime brokerage service.