FNG has learned that Cyprus based Retail FX and CFDs brokerage group HFM, formerly known as HotForex, has hired experienced industry executive Tiago da Costa Cardoso as the company’s new Global Head of Business Development.

Tiago will be based out of Dubai for his new role at HFM, marking the second senior hire for HFM in Dubai this month. We reported a couple of weeks ago that HFM added former Tickmill executive Samer Alkhaldi in Dubai, to head Business Development MENA.

Tiago da Costa Cardoso joins HFM after spending the past year and a half at Exinity where he was Senior Vice President – Strategic Business Development in Dubai. Prior to Exinity, Tiago worked at INFINOX, and at XTB.

HFM rebranded its retail brokerage operations from HotForex to just HFM in 2022. The group operates CySEC licensed HF Markets Europe Ltd (at website hfeu.com), FCA regulated HF Markets (UK) Limited, Dubai DFSA licensed HF Markets (DIFC) Ltd, FSCA regulated HF Markets SA (PTY) Ltd in South Africa, as well as offshore HF Markets (Seychelles) Ltd at website hfm.com.