TradeZero names CFO as broker goes public via SPAC
Since 2015, Joshua Choi has been a Director at Fortress Investment Group, where he worked with the strategic capital team investing in fintech, depositories, specialty finance, and brokerage companies.
TradeZero has appointed Joshua Choi as Chief Financial Officer as the online trading platform transitions to a public company.
The appointment is part of TradeZero’s plans to expand its C-suite as it transitions to a public company via SPAC.
TradeZero has recently signed a definitive agreement on Oct. 12, 2021 with Dune Acquisition Corporation, a special purpose acquisition corporation, which would result in TradeZero becoming a publicly-traded company under the name “TradeZero Global Inc.”
The broker-dealer caters to active retail traders looking for commission-free stock trading and direct market center access to U.S equities and equity options trading.
Tradezero serves international clients since 2015 through its Bahamas-based entity and serves U.S. clients via TradeZero America, Inc., which is a member of NYSE, NYSE Arca, NYSE American, Nasdaq, Nasdaq BX, and Cboe.
Since 2015, Joshua Choi has been a Director at Fortress Investment Group, where he worked with the strategic capital team investing in fintech, depositories, specialty finance, and brokerage companies.
From 2013-2015, he was with the private equity team at Morgan Stanley Infrastructure Partners. From 2008-2011 he was with the private equity firm JC Flowers & Co., where he invested in distressed banks and brokerage companies.
Prior to that, he was an investment banker with JP Morgan and HSBC. In addition, he has served on several corporate boards working with company management as both an investor and an advisor.
Dan Pipitone, CEO and co-founder of TradeZero, commented: “We welcome Josh to the team. His expertise in financial services, capital markets, and governance fits perfectly with our plans for growth.”
Joshua Choi, Chief Financial Officer at TraderZero, said: “The TradeZero family culture and pursuit of excellence for its customers are core to this Company, and I look forward to serving the organization to continue its growth aspirations,” said Mr. Choi.
In October, Finance Feeds reported the plan to go public via a $556 million SPAC merger as the latest example of online trading brokers catching the boom of special purpose acquisition companies.
The most notable example was eToro and US SPAC Fintech Acquisition in a deal that values the social investment platform at a massive $10.4 billion.
TradeZero America reported a massive spike in new account openings since the frenzied share dealing in GameStop and other firms emerged, fuelled by Reddit chat boards.
Earlier this year, the company said its new account applications surged by more than 200 times compared with the same period in 2020.
TradeZero attributed that to a huge interest in unrestricted access as investors look to pick up stocks that have been the focus of a trading war between amateur investors and Wall Street pros.
