FNG Exclusive… Further to our recent exclusive report that longtime ADSS UK CEO Paul Webb and CFO Trevor Beagrie had left the company (with Mr. Webb moving to rival Equiti Capital), FNG has learned that a number of other senior executives have recently left the company, while ADSS has brought on board several other experienced people in their place (with more likely to come aboard soon).

First, joining ADSS recently are:

• Dave Worsfold, based in London and new ADSS Group Chief Operating Officer, following more than 10 years in senior operations roles at CMC Markets.
• Theo Papathanasiou, formerly of GCEX, Interactive Brokers, and Saxo Bank, who has joined in London as Chief Client Officer.
• Kevin Ball, now Chief People Officer at ADSS, following a seven year career at software provider CDK Global.

Departing ADSS are:

• 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, later this year.

FNG spoke with representatives of ADSS about the management changes. We were informed the following:

“As part of our ambitious strategy to enhance our business and transform ADSS into one of the world’s leading brokerages, we have made several high-profile appointments over the past year that further enhance our robust management team. In just the past six months, we have made three key hires that will help accelerate our growth trajectory as we place more emphasis on digital channels. We are very pleased to have been able to hire Dave Worsfold as Chief Operations Officer, Theo Papathanasiou as Chief Client Officer and Kevin Ball as Chief People Officer. Together, they will enhance efficiencies across the business, provide higher levels of personalised support to clients and make ADSS a magnet for the industry’s finest talent.

“Before joining ADSS, Dave spent over a decade at CMC Markets in London, where he was Director of Operations for the Group and part of the management team that oversaw CMC Markets’ IPO. Theo started his career as a currency trader at Citi before stints at Credit Suisse, Saxo Bank, where he was head of Global Sales Trading, and Interactive Brokers. And prior to joining ADSS, Kevin spent eight years with CDK Global, a Chicago-based software company, where he managed the HR strategy of the company’s international business across 30 countries.

“In the second half of the year, we will be announcing further high-profile appointments to our senior management team as we bolster our presence in our core Middle East and Europe markets. In the meantime, we wish Paul and Trevor the best in their new roles.”