XTB recruits Jens Chrzanowski to head Germany operations

abdelaziz Fathi

Poland-based Forex and CFDs broker XTB has appointed Admirals alumni Jens Chrzanowski as head of its German branch.

For nearly twelve years, Chrzanowski has been tasked with leading Admirals’ operations across its European core markets, including Germany, Austria, Switzerland, and the Netherland. He originally joined the firm in 2011.

During this long stint, Chrzanowski worked his way up through several senior roles with the firm, culminating with the position of chief value officer. His role was to ensure that all relevant aspects of value creation and destruction are accounted for and communicated to boards, management and external stakeholders.

The CEO of Admirals Group AS Sergei Bogatenkov said that Jens Chrzanowski has had an important role in the company’s success and global position.

Omar Arnaout, CEO of XTB, emphasized the special importance of the German market: “Germany is the largest economy in Europe and therefore also one of the most important capital markets, in which XTB with its broad product portfolio and trading solutions is one of the leading service providers. With Jens Chrzanowski, we were able to gain a renowned financial market professional who, with his many years of experience, can take our growth course in this market to a qualitatively new level”.

Chrzanowski is replacing Eliza Dygutowicz, who is leaving the company after 13 years of cooperation. Omar Arnout thanked her for this and paid tribute to the manager’s loyalty: “Ms. Dygutowicz has done an excellent job of building up the branch, and her departure marks the end of an important chapter for XTB Germany. We wish her all the best for her upcoming projects”.

The Warsaw-based brokerage reported last month its final results for H1 2022 which showed improved metrics after seeing revenues and customer numbers fall back in the previous year as the pandemic trading boom fizzled out.

In the six months to June 30, XRB revenue was reported at PLN 836.2 million ($178 million), up 245 percent from PLN 242 million in the same period a year ago. On a quarter-over-quarter scale, the company posted PLN 396 million in Q2 revenues, which was lower from PLN 440 million in the first quarter.

In terms of its operating income, the listed broker disclosed a net profit of PLN 480 million ($102 million), which was six times higher than the PLN 65 million it earned in the H1 2021.

The Polish brokerage firm, like rivals, saw trading volumes skyrocket in 2022 as retail traders tried to take advantage of swings in the financial markets brought on by the Russia-Ukraine war.

 

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