After more than 14 years of a professional career at Sucden Financial Limited as the Head of eFX, Peter Brooks has decided to change his post and move to ADM Investor Services International Limited (ADMISI), where he will also be responsible for leading the company's eFX operations.
Former Sucden e-FX Head Moves to ADMISI
According to his LinkedIn profile, Brooks moved from Sucden, a multi-asset execution and liquidity provider, to ADMISI in February. He will be responsible for developing the full-service brokerage company's electronic forex trading products and team management.
"I'm happy to share that I'm starting a new position as Head of eFX at ADM Investor Services," Brooks wrote Today on his social media channels.
Brooks started his professional career in the foreign exchange and contracts for difference (CFDs) market in 2000 as a CFD Sales Trader in Calyon Financial. After seven years, he moved to Landsbanki as an Associate Director and worked for a short period at Monecor Ltd as an Equity CFD Sales Trader.
In February 2009, he joined Sucden as the Head of Institutional Equities, where he spent the next 14 years, being promoted to the Head of e-FX Coverage and the Head of e-FX.
Sucden Financial Reported 1,0255% Jump in Profits
According to the most up-to-date financial report published by the FCA-regulated company, the annual net revenue for 2021 rose by 29.4%. The company's pre-tax profits made an even more remarkable surge, increasing by 1,025 percent year-over-year to reach £18.0 million. This is a significant improvement from the £1.6 million profits generated by the institutional broker-dealer in 2020.
Earlier, Finance Magnates reported that the company's revenue decline and profit drop in 2020 were driven by the onset of the COVID-19 pandemic, which caused extreme market volatility and global supply chain disruption. In addition, the company had to make a full provision due to several clients defaulting.
Given that Sucden Financial's previous reports for the full calendar year were published in May, the results for 2022 should appear within the next two to three months.
Recently, the London-based company announced the acquisition of Atlantic Trading London Limited, which is a proprietary market-making derivative trading company. The company serves as a market maker and liquidity provider for bond options and interest rates, with a particular emphasis on trading euro interest rate products. Furthermore, its website states that it offers fixed-income option liquidity to several global exchanges, although it does not specify which ones.
