Michel Chabbouh, Zenfinex’s Chief Executive Officer (CEO) for the Middle East and North Africa (MENA), has resigned from his position one and a half years after his appointment at the London-based forex and CFD broker. Chabbouh announced his resignation on Wednesday through LinkedIn.

Zenfinex appointed Chabbouh, a senior executive with more than fourteen years of financial industry experience, as its MENA CEO last year and tasked him with leading its operations in the United Arab Emirates. The broker said Chabbouh’s appointment became effective in January last year although his LinkedIn profile says he joined the firm in October 2021.

Michel Chabbouh Departs Zenfinex

Announcing his departure on LinkedIn, Chabbouh noted that Zenfinex now has “strong foundations to build its growth on.” His exit comes over two months after the broker gained a Dubai Financial Services Authority (DFSA) license to expand its services in MENA. Additionally, Zenfinex in March last year got its Seychelles license.

“Starting from scratch, we have built the Zenfinex MENA offices to a 20+ team of some of the most talented individuals in the industry, obtained the DFSA license in Dubai, developed the brand with strong and key partnerships, and established 2 strong offices in the region. All that within a 1.5-year span!,” Chabbouh wrote on LinkedIn, adding that “my mission is now accomplished, and it is time for me to move on to the next one!”

Michel Chabbouh's Career Experience

Over his career of more than a decade, Chabbouh worked for a number of top financial organizations including FXCM, Societe Generale, HSBC and Credit Suisse. Before joining Zenfinex, he worked in various senior roles at FXCM for almost nine years. The last position he held at the London-based broker was Regional Manager for the MENA region.

Before that, he served as the Head of DailyFX Arabic at DailyFX for over three years between August 2013 and November 2016. Furthermore, between October 2011 and July 2012, Chabbouh worked in a project management role with Societe Generale Corporate and Investment Banking in a France-based role.

Previously, he served the operational risk and internal control team at HSBC Global Banking and Markets. Moreover, he spent a short stint at Credit Suisse between July and August 2008 under the company’s Private Banking Analyst Programme.