CMC Markets appoints Albert Soleiman as CFO
“Albert has a deep knowledge of the group which will support the execution of our diversification strategy. We have worked closely with Albert as he has developed the CMC Invest business, and I look forward to working with him as a board member.”
CMC Markets has announced the appointment of Albert Soleiman as its new Chief Financial Officer, reflecting the company’s commitment to enhancing its leadership team with seasoned professionals.
Albert Soleiman’s journey with CMC Markets began in 2005 when he joined the London-based online trading platform. Over the years, he has demonstrated his expertise and dedication within the company, eventually becoming Head of Tax in 2008.
His deep-rooted knowledge of CMC Markets and its operations positions him as a valuable asset in his new role as CFO.
Albert Soleiman led the launch of CMC Invest
In 2019, Albert Soleiman embarked on a new professional journey by joining Bitfury UK Ltd as the Global Tax Director, expanding his horizons within the finance sector.
However, his connection with CMC Markets remained strong, and in 2020, he returned to the company to lead the launch of CMC Invest. This initiative, known as “CMC Invest,” is a pivotal element of the company’s strategy to diversify its business and leverage its cutting-edge technologies. It empowers clients to generate long-term wealth through innovative investing platforms.
Albert Soleiman assumes his role as CFO following the departure of Euan Marshall, who had served as the company’s finance chief since 2019. Marshall’s decision to step down from his position was announced on Friday, and he will remain with CMC Markets for the next few months to ensure a smooth transition of the CFO role.
“Albert will support the execution of our diversification strategy”
In July, CMC Markets disclosed that Marshall had resigned to take up the position of CFO at fellow FTSE 250-listed company, IntegraFin Holdings PLC. The company had stated that Marshall would continue to work with CMC Markets until January 2019, highlighting his dedication to facilitating a seamless transition.
It’s worth noting that CMC Markets faced changes in its status towards the end of August when it was announced that the company would be removed from the FTSE 250 index.
James Richards, Chairman of CMC Markets, said: “Albert has a deep knowledge of the group which will support the execution of our diversification strategy. We have worked closely with Albert as he has developed the CMC Invest business, and I look forward to working with him as a board member.”
Albert Soleiman’s appointment as CFO signifies CMC Markets’ commitment to maintaining a strong leadership team and advancing its diversification strategy. With his extensive experience and intimate knowledge of the company, Soleiman is well-positioned to contribute to CMC Markets’ growth and evolution in the dynamic world of online trading and finance.
CMC Invest is broker’s non-leveraged operation
The FCA-regulated multi-asset brokerage firm has recently warned of subdued financial markets and lower trading volumes in the first quarter of its fiscal year 2024. Still, the company expects to deliver a robust performance for the financial year ending 31 March 2024, with investment plans and operating expenses, excluding variable remuneration, expected to align with previous guidance.
CMC Markets also highlighted the development upgrades across both its investing and trading platforms continue. Specifically, its UK non-leveraged platform, CMC Invest, expanded its offering with the recent addition of ETFs, ISAs as well as responsible ESG screening functions. CMC noted that the platform will offer both B2C and B2B potential to the wider market.
The firm’s notable updates included the ‘soft launch’ of its new online and mobile trading platform, “CMC Invest”, in Singapore. 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.