Johan Koo joins CMC Markets’ institutional business

abdelaziz Fathi

Sydney-based business of CMC Markets has appointed Johan Koo to a senior sales role within its institutional operations. He joins the group’s institutional arm, which provides a bespoke brokerage service for banks, brokers, funds and trading desks, with immediate effect.

Johan will be focused on further developing the global sales of CMC Markets’ growing wholesale brokerage, as well as technology sales and client acquisition.

Prior to landing at the Australian broker, Johan had served in an analogous role with Sydney-based FX and CFDs broker, ACY Securities. He also spent more than two years as Head of Trading and Senior Derivatives Dealer at easyMarkets, based out from Sydney, New South Wales. This was preceded by a short stint as a senior corporate trader at the Australian subsidiary of Canadian firm, FIRMA Foreign Exchange.

Earlier in his career, Koo worked for nearly three years as a Sales Consultant/PBE at HSBC, his LinkedIn profile shows.

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CMC Markets sets ambitious targets for institutional business

He joins the institutional business arm of UK’s biggest spread better after it has recently upgraded its tech stack to facilitate faster price construction across a wider range of asset classes that are available to their institutional client book. Their clients now have access to an additional 60-plus spot FX pairs and precious metals.

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.

Interacting with their existing and potential customers is crucial for CMC Markets after it warned of a potential slowdown in trading revenue as the boom in retail investing starts to decelerate.

CMC Markets reported a drop in revenues and customer income for the April-September period as the market environment stabilised following a period of high volatility after the Covid-19 hit.

In the six months to September 30, margin trading business yielded £101.4 million in net revenue for the H1 FY 2022 , half of the amount it earned in the previous year. CMC Markets, founded by tycoon Lord Cruddas, reported £409.8 million in net operating income for the year ended March 2021.

Shares in the FTSE 250 company plummeted over a quarter at one point in September, which wiped off more than £300 million of its market cap after hitting their lowest level in just over a year.

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