While Revenues fell, Admirals Group operating expenses increased by 24% in the first half of 2023.
Daniel Skowronski served as CEO EMEA and Managing Director of the Americas at OANDA (2014-2017), and as CEO of Alpari UK (2010-2013).
In addition to the restructuring and license news, Admiral announced a bond buyback at Admiral Markets AS.
The move comes after Admirals recently received a financial services license for Admirals Kenya Limited, as well as for Admirals SA (PTY) Ltd.
For the full year 2022, Admirals posted Revenues of €69.0 million and Net Profit of €23.5 million.
The move is the latest on the continent for Admirals, which earlier this year established an entity in South Africa.
Despite the increase in trading volumes, revenues and profits the number of client trades went down by 2% to 28.7 million.
Admirals is now licenced in South Africa, and announces the opening of a new office in Cape Town.
Admirals has made it more convenient to tap and analyse markets with the upgraded charts on Admirals Mobile App
The aim of this license is to provide execution-only services in CFDs to Admirals clients in Ontario and British Columbia.