Edgewater Markets hires Paul Thomas and Charles Achoa to expand FX execution and liquidity aggregation
Over the past 10 years, Edgewater Markets has grown its business to offer its FX trade execution and liquidity aggregation services to more than 350 clients.
Edgewater Markets has announced the appointment of Paul Thomas and Charles Achoa to boost the sales of the firm specialized in trade execution and liquidity aggregation across foreign exchange (FX) and precious metals.
The firm is looking to leverage the new hires to expand further, with Paul Thomas focusing on buy-side clients and Charles Achoa developing business in Latin America.
Edgewater Markets building out LATAM operation
Jose-Antonio Buenaño, Managing Director and Head of South America at Edgewater Markets, commented: “We are excited to have Paul and Charles join our growing sales teams. Paul comes to our Connecticut headquarters with extensive industry knowledge, experience and a solid network of institutional investors. He will be instrumental in further developing our roster of buy-side clients.
“Charles brings his impressive Wall Street career to our sales team in our São Paulo office as Brazil has become the most relevant market at this stage in our development of Edgewater’s LATAM buildout.”
These hires come on the heels of an exciting time for Edgewater marked by growth across all segments, including 90% year-over-year growth in overall volume traded on Edgewater technology. This near-doubling was driven by 300% growth in non-deliverable forwards (NDFs) and a 35% increase in precious metals. In addition to moving into larger offices across the United States, London, Chile, and Mexico City, the firm recently rolled out a new brand that is emblematic of the new Edgewater – the same reliable client service and flexible business model their clients have come to depend on, but with a refreshed look that reflects the future of global FX and commodity markets.
Paul Thomas joins Edgewater Markets after BidFX and FlexTrade
Based in the firm’s Connecticut headquarters, Paul Thomas was assigned a key role in expanding the firm’s reach and distribution to the buy side.
His more than 24 years of experience in foreign exchange sales and trading development and relationship management, includes six years in platform sales at BidFX and FlexTrade. He previously worked in the banking sector, with foreign exchange sales roles at Citibank, BNP and AIG Trading Group.
“I am very fortunate to have the opportunity to join Edgewater Markets in the midst of their expansion. I look forward to helping to further expand their reach into the institutional buy-side and sell-side trading communities”, said Paul Thomas.
Charles Achoa will help Edgewater Markets expand across LATAM
Charles Achoa will contribute to the growth and development of Edgewater Markets’ Latin American presence. The seasoned financial services professional has more than 28 years of experience in sales, derivatives, investment banking and client management.
He joins Edgewater Markets after serving as venture capital investor and financial consultant for Brazilian institutions. He previously played the role of Managing Director and Head of Latin America at RBS’s Global Banking & Markets Group. His career includes stints at major Wall Street firms including Credit Suisse, DLJ, Swiss Bank and Chemical Bank.
“I’m glad to have joined Edgewater at a time when we are introducing our technology to the Brazilian market. These are exciting times; FX and other asset classes are moving toward more efficient trading, enhanced by real advancements in technology, particularly in the NDF space. We are uniquely positioned to bring our clients leading-edge technology that compresses execution costs and maximizes traders’ abilities to reach onshore liquidity and inventory”, said Charles Achoa.