Admirals picks Sami Hamed as CEO of Jordanian subsidiary

abdelaziz Fathi

The Jordanian operating subsidiary of Admirals, Admiral Markets Jordan, has appointed Sami Hamed to take on the role of its chief executive officer (CEO).

Most recently, Hamed was the CEO of Noor Al Mal, a subsidiary of NCM Investment, also known as NoorCM or NCM, which was established in 2009 as a privately held online financial broker. He spent three years there based in Amman Governorate, Jordan.

Prior to Noor Al Mal, an eight-year tenure as owner and general manager at Golden Royal Index took Sami’s career between 2011 and 2019, preceded by three years at retail broker FX Winsor. Other stops include different stints with local banks and brokers, part of a lengthy career dating back to 1994.

Based out of Amman, Admirals was the latest financial services provider to secure both a local and international brokerage license with the JSC. Interest in the domestic market has certainly been on the uptick, with a JSC license being awarded to Equiti, Windsor Brokers, amongst other brands.

Admirals barely broke even in 2021

Admirals is licensed by the UK ‎Financial ‎Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). The regulatory approvals allow the brokerage firm to offer a set of financial services and ‎also approved to ‎provide cross-border services across the EU / EEA under ‎European passport rights.‎

Earlier this month, Admirals (formerly Admiral Markets) reported its interim financial results for the twelve months ending December 2021, which saw mixed results across key components of its business. The company disclosed a net operating revenue of €35.7 million. The figure was down by nearly 43 percent year-over-year from €62 million in 2020.

Meanwhile, the bottom line figure shows that Admirals barely broke even in the year just ended. The company reported a net profit at €0.1 million in the 12 months through December 2021, compared with a net profit of €20.7 million it earned in the year prior.

Number of active clients was also up 2 percent to 49,080 clients compared to the previous year and also doubled compared to the same period in 2019.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎

Interviews

Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.

Interviews

FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.

<