Equiti Group hires ex DGCX CEO Gaurang Desai as Managing Director of Strategy
FX and CFD broker Equiti Group has announced the appointment of Gaurang Desai as Managing Director of Strategy.
The move marks the latest in a string of senior hires for Equiti in both its UAE and London offices. These have included Waleed Saleh who joined as Global Head of Market Research, and former OANDA executive Chantelle Johnson who joined as Group CMO.
Gaurang Desai brings over 25 years of experience working across financial exchanges, market infrastructures and with regulators. Establishing and managing various exchanges across asset classes and building Clearing Houses/CCPs has provided him with an understanding of the needs of today’s financial markets and appropriate strategies to meet regulatory challenges.
He is a founding member of the Dubai Gold and Commodities Exchange (DGCX Group) and previously held the role of Chief Operating Officer for almost ten years. Mr. Desai established and managed the operations for the Dubai Commodities Clearing Corporation (DCCC), the largest CCP in the MENA region to offer a full range of clearing services to its customers. At DCCC he worked to establish and nurture an ecosystem of banks, custodians, collateral managers, warehouses, vaults, assayers, security, and network service providers to support its clearing and settlement framework.
Gaurang Desai was promoted to the role of Chief Executive Officer of the DGCX Group in August 2014 where he led the development and execution of the DGCX Group’s long-term strategy. Under his leadership, the DGCX Group achieved numerous business milestones, industry accolades and regulatory recognition. Key among them was the authorization as a Third Country CCP (TC-CCP) by the European Securities and Markets Authority (ESMA), the Monetary Authority of Singapore (MAS), the Dubai Financial Services Authority (DFSA) and the ADGM-FSRA for the DCCC.
Since July 2018 he served as an Advisor for Financial Markets to the UAE’s Securities and Commodities Authority (SCA) to support the SCA to continue to be one of the best regulatory agencies globally.
Iskandar Najjar, Equiti Group CEO, said:
“We are very pleased to welcome Gaurang to the Equiti Group, and highly value his experience and knowledge of global best practices in the implementation of new generation products and delivery models, different aspects of licensing, and working with exchanges in regulated markets.
“Equiti Group has ambitious plans to roll out new offerings in 2022 as well as enter new global markets and regulatory requirements are a key part of all our new offerings.”
Gaurang Desai, Managing Director of Strategy for Equiti Group, said:
“My key mission will be to support the ambitions of Equiti Group and the expansion of its global footprint, building new partnerships, adding business lines, and expanding its services portfolio.
“Leveraging on the learnings of the pandemic, 2022 and beyond will be important years for rolling out new generation products and service delivery models across geographies to create a significant value proposition for our clients and all of Equiti Group’s stakeholders.”
Gaurang Desai has an MBA in Finance and a Bachelor of Commerce from the University of Mumbai.
Equiti Group Ltd is the parent company of some of the most progressive FX and CFD brands and prime brokerage providers in the industry. With over 350 global staff and 24/6 customer service, Equiti provides clients with access to individual, corporate, and institutional brokerage services across various affiliates and subsidiaries. Equiti Group’s global footprint includes local offices in Europe, the Middle East, the Americas, Africa, and the Asia Pacific regions and provides trading support and services on the world’s leading trading platforms MT4 and MT5.
Regulated entities within Equiti Group include Equiti Capital UK Ltd regulated by the UK’s Financial Conduct Authority, Equiti Group Limited Jordan, regulated and licensed by the Jordan Securities Commission, EGM Futures DMCC, regulated and licensed by UAE’s Security and Commodities Authority, EGM Securities Ltd regulated and licensed by Kenya’s Capital Markets Authority, Equiti Brokerage (Seychelles) Limited regulated and licensed by the Seychelles Financial Services Authority and Equiti AM CJSC, regulated and licensed by the Central Bank of Armenia.