Roman Krutyanskiy quits Admirals’ management board after 11 years

abdelaziz Fathi

FX brokerage firm Admirals (formerly Admiral Markets) is parting ways with its long-serving executive Roman Krutyanskiy, a member of the group management board .

For more than eleven years, Krutyanskiy has been tasked with leading Admirals’ operations across its European core markets, including Germany. He originally joined the firm in 2011.

During this long stint, Krutyanskiy worked his way up through several senior roles with the firm, culminating with the position of chief sales and service officer. His role was to manage two departments with over 160 employees in several countries. He was also tasked with creating and delivery of the strategy plan on sales activities as well as client service matters.

As a member of the management board, Krutyanskiy was responsible for the strategic decisions and development of the company. He previously spent a four-year tenure as country manager of Admirals Germany for four years between January 2017 and December 2020.

The CEO of Admirals Group AS Sergei Bogatenkov said that Krutyanskiy has had an important role in the company’s success and global position. Earlier in September, he took over the leadership of the German office as managing director, replacing Jens Chrzanowski, who joined X-Trade Brokers’ (XTB) German branch.

Admirals is licensed by the UK ‎Financial ‎Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). The regulatory approvals allow the brokerage firm to offer a set of financial services and ‎also approved to ‎provide cross-border services across the EU / EEA under ‎European passport rights.‎ The company maintains its core offices are in Estonia, Jordan, Cyprus, Malaysia and UK.

Admirals had seen noticeable gains in its financial figures in 2022. In August, the company disclosed a net operating revenue of €43 million compared to just €35.7 million for the entire 2021. The figure was also up by nearly 150 percent year-over-year from €17.3 million in 2021.

Also, Admiral Markets saw its operating expenses tick down in the 2022, after seeing a figure of €10 million – this was down 9 percent year-over-year from €10.9 million in 2021. Marketing expenses, which accounted for 35 percent of total operating costs in the first half, decreased 25 percent year-on-year and reached €3.5 million by the end of June 2022.

Meanwhile, the bottom line figure shows that Admirals’ EBITDA and net profit were €24.3 million and €23.3 million, respectively. In 2021, the company barely broke even with a net profit at €0.1 million in the 12 months through December 2021.

Read this next

Digital Assets

Binance executives sue Nigerian authorities over rights violation

Two senior executives from Binance have filed a lawsuit against against Nigeria’s national security adviser’s office and its anti-corruption agency, alleging violations of their fundamental rights.

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

<