Rostro Group goes on a hiring spree after Scope Markets acquisition

abdelaziz Fathi

Rostro Financials Group, a fintech group focused on capital markets and digital assets, has appointed Mitesh Vaghela as its newest chief product officer (CPO).

As part of Mitesh’s new role, he will oversee Rostro’s entire product portfolio and manage the company’s product development and strategic integration efforts. A veteran of 17 years in the financial services field, he will bring experience in product management and business development.

Vaghela has also served on the leadership team of several FX firms, including GKFX, EFX Solutions Manager and Integral Corporation. Earlier in his career, he spent more than three years at Alpari (UK). He joins Rostro from Equiti Capital, where he was head of product.

The new hire comes shortly after Rostro Financials acquired Belize-based FX and CFDs brokerage Scope Markets. The financial details of the transaction were not disclosed, but Rostro is buying the retail broker in an all-cash deal.

Rostro is led by Michael Ayres

Apparently, Scope Markets will continue to be led by CEO Jacob Plattner, who has also been a major shareholder since he resigned his position as managing director at GKFX. Scope Markets, which is domiciled in Belize and regulated by the International Financial Services Commission (IFSC), is controlled by UAE-based entrepreneur Serkan Ismailoglu. The Middle East-focused broker also operates regulated entities in Africa, Cyprus and Mauritius.

The deal also plays into a long-term vision for Rostro, which operates multi-regulated brokerage houses that provide execution, and clearing of both listed securities as well as OTC derivatives. In addition, the group offers banking, alternative finance, and digital asset storage with both on and off ramp solutions.

Rostro is led by Michael Ayres, the former chief operating officer at Equiti Capital, formerly known as Divisa Capital. Prior to Equiti, Ayres, who has over 13 years of experience in the forex industry, was the operations director at GKFX. He served with the UK-based CFDs broker and spread better for more than five years, starting from November 2013 until he left for Divisa in 2018.

Scope Markets has recently announced a multi-year extension to its sleeve partnership with iconic east London football club, West Ham United. The extended accord helps expand Scope Markets’ product scope in the UK and globally as the football club’s official online trading partner.

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