FNG Exclusive… Following up our recent exclusive coverage of the series of senior management departures at Retail FX broker ADSS at both its UAE headquarters and its FCA regulated London operation, FNG has learned that two more senior executives are leaving ADSS at year-end.

The latest two to leave ADSS are Chief Compliance Officer Roland Danielczyk (pictured above), and the company’s Head of Front Office Michael Taylor.

Roland Danielczyk joined ADSS at its Abu Dhabi, UAE global headquarters in 2017 as Head of Compliance, and became the company’s Chief Compliance Officer / MLRO in 2018. He joined ADSS from Saxo Bank, where he was Head of Compliance  at Saxo’s Switzerland subsidiary. He had previously worked at private bank Coutts, as well as at Credit Suisse, ING and Deutsche Bank in a variety of compliance and risk management roles.

Michael Taylor became Head of Front Office in 2020, following the departure of Fabian Chui, who is now COO at digital assets trading firm Paratus Capital.

We had also reported that a lot of the management turnover occurred in the wake of a 38% decline in ADSS UK revenues in 2020, a year which saw most of its competitors report a large increase in activity. The company said that the decrease in revenues was a result of the pivot from an institutional led offering to one that centered around Professional clients. Other departures from ADSS in 2020-21 have included:

• Tarek Nabil, who joined Capex.com as COO of its UAE operation, Key Way Markets Ltd.
• ADSS UK CEO Paul Webb, who moved to rival Equiti Capital.
• Jason Hughes, who became Senior Executive Officer of Exinity ME Ltd.
• Oliver Hallsworth, General Counsel and Global Head of Legal & Compliance since 2016.
• Fabian Chui, Head of Front Office and with ADSS since 2017.
• Poul Gotterup, with ADSS since 2014, most recently as Head of Data and Analytics.
• Francis Lee, CEO of ADSS Asia since 2015. We understand that Mr. Lee’s departure will coincide with the planned closure of the ADSS entity in Hong Kong at the end of 2021.