Exclusive: Admirals CEO Sergei Bogatenkov and Cyprus head Andreas Ioannou resign
Taking the place of Sergei Bogatenkov as CEO will be Admirals founder Alexander Tsikhilov, who has been Chairman since 2017.
Taking the place of Sergei Bogatenkov as CEO will be Admirals founder Alexander Tsikhilov, who has been Chairman since 2017.
Anton Tikhomirov, a member of Admiral Group AS’ supervisory board, was recalled and named to the management board of the company.
Match-Prime is a CySEC-regulated liquidity provider working exclusively with professional and institutional clients.
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.