Trading 212, a London-based provider of trading platforms for stocks, exchange-traded funds and contracts for difference (CFDs), had some change in the Board as two directors stepped down recently. The Directors are Rajvinder Kaur Somal and Borislav Tzonkov Nedialkov.

According to the company’s UK Companies House filings, the directors’ appointments were terminated last Thursday (January 26th). Trading 212 told Finance Magnates on Friday that while Somal resigned due to a new career opportunity, Nedialkov only resigned from the Board of Trading 212 UK, the company’s subsidiary in the United Kingdom, in order to “better focus on Group-wide activities.”

Finance Magnates reported that Somal was appointed as a Director in late February last year. On the other hand, Nedialkov co-founded Trading 212 in 2004 alongside Ivan Ashminov. Both Nedialkov and Ashminov are the Shareholders and Ultimate Beneficial Owners of Trading 212 Group Limited.

The new development at Trading 212 comes five months after Trading 212 UK appointed Andrew Paul Rydon as a Director at the company. Rydon is also a Non-Executive Director at various other companies.

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Until July last year, Rydon was the Chief Operating Officer at Investec Wealth & Investment UK. He joined the investment management company after spending over 14 years at Henderson Global Investors serving in various capacities such as the Chief Information Officer, Chief Technology Officer and Global Head of IT.

In addition, the brokerage recently hired Darren Dale, a compliance expert with over 17 years of industry experience, as its Group Chief Compliance Officer.

Trading 212 Group Grows Revenue, Profit

Meanwhile, Trading 212 Group reported a 473% growth in its pre-tax profit for the 2021 financial year. The numbers came in at £86 million, according to a Companies House filing seen by Finance Magnates. Furthermore, during the period, Trading 212’s total revenue increased by over 11.2% year-over-year to £138.7 million.

Moreover, the same growth pattern was applied to Trading 212 UK, one of the four subsidiaries of the Group. The subsidiary reported a 74% jump in its total revenue for the fiscal year 2021 even as pre-tax profit skyrocketed by 108% to almost £56 million, which is up from £26.96 million in the prior year.

Outside the United Kingdom, Trading 212 owns three other subsidiaries Bulgaria (the home country of its founders), Cyprus and Germany. However, the brokerage company announced plans last year to shut down its entity in Germany.