FNG Exclusive… FNG has learned that longtime FX sales executive Hormoz Faryar has rejoined retail FX brokerage group ADSS in its Abu Dhabi global headquarters.

Mr. Faryar will serve as ADSS’s new Head of Institutional Sales, reporting to Global Head of Sales, Khaldoun Sharaiha. Mr. Sharaiha also re-joined ADSS earlier this year from Equiti Group, so it isn’t too much of a surprise that he brought Mr. Faryar back to ADSS soon after his appointment.

Hormoz Faryar spent the last three years with ADSS rival Equiti Group, another UAE based retail forex broker with global aspirations. At Equiti he was also Head of Institutional Sales.

Mr. Faryar had spent six years with ADSS in his previous stint with the company, joining in 2011 in sales and working his way up the ladder to become Head of Institutional Sales – Middle East & Africa, before leaving for Equiti as noted in 2017.

Hormoz Faryar began his finance career with State Street in London with its then-new business unit FX Connect. After nine years at State Street he moved to Credit Suisse UK to take up the role of VP AES FX Sales. After two years at Credit Suisse he moved to the UAE to join ADSS, then known as ADS Securities.

The move comes a few weeks after FNG exclusively reported that ADSS had made some other moves within its sales organization at HQ under Mr. Sharaiha’s new leadership, promoting both Omar Qaryouti and Ammar Bader to Sales Director in early June.