CMC Markets: Tory peer’s listed trading platform appoints new CFO amid slowdown
Online trading platform CMC Markets, owned by Tory peer Lord Cruddas, has appointed Albert Soleiman as its chief financial officer, replacing Euan Marshall.
Soleiman first joined CMC in 2005, remaining at the company until 2019 when he joined Bitfury UK, a blockchain technology company, as global tax director.
He rejoined the London-listed firm a year later to lead the launch of CMC Invest, which was a key part of the firm’s plans to diversify its business over the past few years.
“I am delighted to be taking on the role of CFO of CMC and look forward to working with the group board to drive the group’s strategy,” he said.
Outgoing CFO Euan Marshall announced he would be joining rival IntegraFin last June, but will remain at the firm for “the next few months” to support an orderly transition.
Chair James Richards said: “Albert has a deep knowledge of the group which will support the execution of our diversification strategy.”
CMC is pushing for growth across its largest markets, including Australia and Singapore, and is launching a number of new products for institutional clients.
However, the company flagged “a more challenging environment” in August as the quieter market conditions weighed on its performance.
CMC Markets was among a host of trading platforms to make hay while markets were roiled by the pandemic but has since struggled amid quieter conditions. The firm said it had also suffered from the flight of day traders who poured onto the platform through the so-called meme stock saga.