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.

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