Equiti Group injects $10m in FCA-regulated entity to fund strategic initiatives
Equiti Capital is now well-funded in order to make several strategic business initiatives that will strengthen the broker’s position within the FX industry.
Equiti Group has injected $10 million in its FCA-regulated entity, Equiti Capital UK Limited, as part of a wider restructure that has seen top executive moves in July.
The parent company plans to support a number of strategic business initiatives of Equiti UK. The capital injection will strengthen the UK broker’s balance sheet, but there will be no change in control as a result of the new share issue, as this is a direct subscription from Equiti Group Limited.
Equiti Capital, the FCA-authorized FX and CFD broker which is part of Equiti Group, has recently announced the appointment of Paul Webb as Chief Operating Officer.
The current COO and Board Member Michael Ayres will hand over the position to Paul Webb by 24 August. Equiti will soon announce Mr. Ayres’ next challenge.
Paul Webb is an FX and CFD industry veteran with more than 20 years of experience including various senior leadership and front office positions in the United Kingdom and the Middle East. He developed global product ranges and risk management strategies throughout his career.
Earlier in July, Equiti Capital’s chief executive Brian Myers was appointed to lead the Seychelles-based subsidiary, Equiti Brokerage, as well as Equiti’s Africa operation.
The move has put an end to Mr. Myers’ leadership of the FCA-regulated broker after three years at the helm, while also holding a seat on the Board of Directors, including Executive Chairman from 2018 to 2020. The departing COO, Michael Ayres, joined Equiti Capital at the same as Brian Myers.
Nigel Holmes assumed the role of interim CEO for Equiti Capital (UK) in the face of Brian Myers’ departure. Mr. Holmes has been a director and board member of Equiti Capital (UK) since March 2018.
Equiti Capital is now well-funded with $10 million in order to make the strategic moves that will lead the UK broker to a stronger position within the jurisdiction’s FX industry.
The broker plans to announce new key hires in Q3 2021. For now, Nigel Holmes will remain as the interim Chief Executive Officer in a time that Equiti Group experiences significant growth in the brokerage side of the business, particularly in Europe and Asia.
Equiti has also enhanced its prime of prime offering by partnering with FlexTrade. The company selected FlexTrade Systems’ MaxxTrader Foreign Exchange Platform Solution for its Prime of Prime Services offering.
MaxxTrader will enhance Equiti’s ability to provide their prime of prime customers with seamless global FX liquidity aggregation, trade execution management, and institutional trading capabilities.