Ex-Daiwa Securities' Rick Fulton Appointed CFO of ayondo

...Rick will play a crucial role in the planned listing of ayondo in Singapore

Zurich-based Investment firm ayondo Holding AG, with regulated entities in London and the Frankfurt-based social trading provider ayondo GmbH, today announced the appointment of Rick Fulton to the role of Chief Financial Officer (CFO). He will join the company's executive committee as the firm aims to be listed in Singapore.

Mr. Fulton joins ayondo as CFO after leaving his role at Daiwa Securities where he was managing director and regional CFO for Asia and Oceania, as per the announcement. According to a LinkedIn profile, Mr. Fulton was with Daiwa Capital Markets Hong Kong from April 2010 through March 2016, nearly six years. Mr. Fulton brings over twenty years experience in the securities industry and previously held senior positions at Royal Bank of Scotland, Deutsche Bank, and AMN AMBRO.

RTO target: Starland Holdings Limited

Last month the group revealed that it was in advanced negotiations for a reverse takeover (RTO) transaction with a company listed on the Singapore Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (SGX), which could result in it becoming publicly traded in Singapore. ayondo is valued at $155m, as per related coverage by Finance Magnates. The company set up an office in Singapore several years ago under the name ayondo Asia PTE Ltd.

According to regulatory filings with the SGX, property developer and real estate investment firm Starland Holdings Limited, under ticker STHL, entered into a memorandum of understanding (MoU) with ayondo on April 13th regarding a proposed acquisition, which was the same day that ayondo announced the RTO.

Reverse Takeover eyes SGX

The company describes itself as a fintech firm and pioneer in social trading, according to the announcement, and ayondo GmbH – which represents the core holding of the group - offers its social trading services as a tied agent of DonauCapital Wertpapier AG.

Meanwhile, the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of the trades and brokerage side of the business is handled by ayondo's FCA-regulated entity Ayondo Markets Limited in London.

According to sources, the company focuses on its B2C business in regions such as Europe, while in Asia its B2B efforts are utilized to partner with regulated entities such as in Singapore. It can then offer out social trading services from ayondo to its end clients.

"I am very pleased that Rick is joining the Executive Committee of ayondo. With his extensive experience as a financial services industry CFO, especially in the Asian region, Rick will play a crucial role in the planned listing of ayondo in Singapore," said Robert Lempka, CEO of ayondo Holding AG, commenting in the company’s statement regarding the hire.