LMAX Global names Andreas Wigstrom to head sales and distribution
Andreas Wigstrom is with LMAX Group since 2010, having joined as Head of International Development at LMAX Global. In 2019, he became Executive Director at the broker.
LMAX Group has appointed Andreas Wigstrom to the newly created role of Managing Director for LMAX Global, the Group’s regulated broker.
The operator of institutional execution venues for FX and cryptocurrency trading owns LMAX Global as a way to offer regulated brokerage services for traders looking to gain exposure to FX, metals, and commodities.
Andreas Wigstrom will be in charge of sales and distribution of the LMAX Global offering worldwide, which caters to retail brokers and professional traders.
LMAX Global provides access to deep institutional firm limit order liquidity, tight spreads, and transparent, precise execution, the broker claims.
LMAX Group sells 30% stake to J.C. Flowers & Co in major deal
David Mercer, CEO, LMAX Group, commented: “This appointment demonstrates the depth of talent we have within LMAX Group, alongside the capabilities our senior managers have in geographic and business-line leadership roles. This is a great strength of LMAX Group. Andreas is at the top of his game and a natural choice for this newly created role. I am confident that we have the right team in place to deliver the Group’s full capabilities to serve the evolving needs of our clients.”
Andreas Wigstrom, Managing Director of LMAX Global, added: “I am honored to have been given the opportunity to take on this new role at such a pivotal moment in the LMAX Group growth story. I truly believe that we have a unique product and value proposition and have a clear sense of how we can build on our track record of achieving growth and driving innovation.”
Andreas Wigstrom is with LMAX Group since 2010, having joined as Head of International Development at LMAX Global. In 2019, he became Executive Director at the broker.
Over the course of the last decade has been integral to driving growth in EMEA and Japan, consistently delivering outstanding results in terms of client onboarding, retention, growth in volumes and revenues, the firm stated.
Mr. Wigstrom joined LMAX Global from Alpari, where he was Global Commercial Director from 2008 to 2010. Prior to that, he spent three years at Citi Index (2005-2008) and five years as Sales Manager at Etrade (2000-2005).
Earlier this month, LMAX announced the sale of a 30% stake in the company to J.C. Flowers & Co, an investment company that focuses on the financial services industry.
The deal is for a cash consideration of $300 million and this values the company at $1 billion. The new funds would be used for the growth and expansion of the services of LMAX with a particular focus on the US and Asia.
The company said that David Mercer would continue to lead the company as he still owns a substantial stake in the company along with the existing management team and J.C. Flowers. This was a secondary share sale by the employees of LMAX.
