CMC Markets adds Camilla Boldracchi to institutional sales

abdelaziz Fathi

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Camilla has originally joined CMC Markets back in 2019 as an associate institutional relationship manager. During this relatively long stint, she worked her way up through several roles with the firm, culminating with the position of head of institutional relationship management for the EMEA region.

Prior to landing at CMC Markets, Camilla had served in business development and sales roles at PhillipCapital UK, an FCA-regulated FX and CFDs broker.

London-based trading provider has set ambitious growth targets for their B2B arm of business which CMC expect to achieve by catering to a greater range of institutional client types and their respective trading strategies.

CMC Markets PLC (LSE:CMCX) shares lost more than 12 percent over the last two weeks after the firm reported results for the first half of its fiscal year 2023. CMC said it achieved a gross leveraged client income of £155 million, representing a 22 percent year-on-year decline compared to its £127 million intake in 2021.

The online trading and investment broker confirmed its plans to grow net operating income by 30% over three years based on the 2022 results and underlying conditions.

On the operational side, CMC Markets’ recent updates included the official launch of its UK non-leveraged platform for its British staff, CMC Invest, on September 30. CMC noted that the platform will offer both B2C and B2B potential to the wider market.

In addition, the listed broker will be launching a new investment platform in Singapore within a year, as well as considering two other jurisdictions for launch in 2023. CMC says the move comes as the firm continues to diversify and expand its geographic footprint through its technology, leveraged institutional offering, and non-leveraged platforms.

Shares in CMC Markets lost nearly 25 percent of their value at one point in July after the spread betting and online trading company warned on higher costs, prompting analysts to slash their earnings forecasts.

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