Zenfinex, a London-headquartered forex and contract for difference (CFD) broker, has hired Alexandros Kritiotis as its Global Chief Operating Officer.
Kritiotis, who has over 14 years of financial industry experience, announced the appointment on Wednesday in an update to his LinkedIn profile.
However, the executive’s profile shows that he resumed duty earlier in August.
He oversees Zenfinex’s operations across countries, including Cyprus, the United Kingdom, Lebanon and the United Arab Emirates.
Previously, Kritiotis was the Chief Executive Officer of Bulgaria-based StocksTech, a digital investment platform provider, and he worked from the firm's Cyprus office.
Before StocksTech, he was the CEO of the Cyprus subsidiary of forex and CFD broker, Blackwell Global where he worked for over six years.
Between September 2007 and February 2008, he was a Junior Tax Consultant at Deloitte, a London-headquartered business consulting and professional services network.
Recent Appointments in Zenfinix
Zenfinex, which gained a Seychelles license in March, has made a number of appointments since the start of 2022.
In March, the broker hired Jeffrey Navarro, an executive skilled in negotiations, sales and derivatives trading, as its Head of Latin America.
A month earlier in February, the broker appointed Michel Chabbouh, a veteran with over 14 years of industry experience, as its CEO for the Middle East and North Africa (MENA).
Zenfinex tasked Chabbouh with running the company’s operations in the United Arab Emirates as part of his MENA CEO duties.
Meanwhile, in July, the UK’s Financial Conduct Authority raised the alarm on zfxtrade.com, alleging that the website was using Zenfinix’s legal identity to scam people in the country.
Market Performance
Meanwhile, Zenfinex in its 2021 fiscal year reported 1,281% growth in its revenue, which jumped from £17,281 to £238,756.
However, the administrative cost of running the company surged to more than £2 million from £514,198 in the previous year.
Furthermore, the forex and CFD broker’s loss last year deepened by 71% to £1.7 million from £496,197 in the previous year.
