FNG Exclusive… FNG has learned that Michel Chabbouh has resigned his position as CEO-MENA at Retail FX and CFDs broker Zenfinex.

FNG had also exclusively reported almost exactly one year ago that Michel Chabbouh had joined Zenfinex, following an eight-year career at FXCM, where he was Regional Manager – Middle East and North Africa. He also created the DailyFX Arabic website for FXCM, which was sold to IG in 2016.

Zenfinex was established in 2017 in the UK, and received FCA authorization in March 2019. The company also operates a licensed operation in Dubai DFSA and offshore operations in Saint Vincent & the Grenadines, and in Seychelles. We had also reported exclusively in November 2021 that Zenfinex hired former Capital Index CEO Matthew Wright as its new Group CEO. Zenfinex is controlled by Oscar Hilt Tatum IV, a Saint Kitts and Nevis citizen who now resides in the UAE and runs offshore investment firm iPoint Capital Partners.

Michel Chabbouh posted the following note today on social media regarding his departure.

Mission accomplished! The time has come for me to leave Zenfinex and begin a new chapter in my career after a fantastic journey filled with obstacles and triumphs.

Starting from scratch, we have built the Zenfinex MENA offices to a 20+ team of some of the most talented individuals in the industry, obtained the DFSA license in Dubai, developed the brand with strong and key partnerships, and established 2 strong offices in the region. All that within a 1.5 year span!

Zenfinex now has strong foundations to build its growth on. I wish them all the best.

My mission is now accomplished, and it is time for me to move on to the next one!