FCA-regulated broker Destek Markets has been sold, sources with knowledge of the matter confirmed to Finance Magnates. The firm’s board of directors has been replaced, according to a recent filing with the UK Companies House.
The new owners of the firm are preparing to rebrand the brokerage to Britannia Markets.
The move is in line with past statements made by the company. In January of this year, a company spokesperson shared with Finance Magnates that the firm was "reviewing some proposals regarding a potential sale of its business as a going concern.”
“As there is no guarantee that any such proposal will be acceptable to the Board," the spokesperson continued. "Destek Markets continues to trade and make available FX and CFDs to its customers."
New Directors and Ownership
The new board of directors which has been appointed today includes Daniel Reiser, Jose Herrera, Sofia Saracho, and Julio Herrera. Previous shareholders and board members, Altunc Kumova, Kerim Tosun and Geo Bv have relinquished their positions.
Finance Magnates has reached out for a comment to the new management team. We will update the article as we receive more information.
Late last year, Destek Markets was mulling over an expansion into the institutional space. The company later rolled back its plans.
